Global Stocks Mixed, Oil Rises as US-Iran Follow-Up Talks Are Postponed
Global equities had surged throughout the week after the United States and Iran announced last weekend that they had agreed to end their three-month conflict and reopen the Strait of Hormuz, easing fears over energy supplies and inflationary pressures.
ERBIL (Kurdistan24) – Global stock markets were mixed on Friday while oil prices rebounded after Switzerland announced that planned follow-up talks on the recent US-Iran agreement had been postponed, dampening investor optimism following a week-long market rally.
Global equities had surged throughout the week after the United States and Iran announced last weekend that they had agreed to end their three-month conflict and reopen the Strait of Hormuz, easing fears over energy supplies and inflationary pressures.
The agreement, signed separately by US President Donald Trump and Iranian President Masoud Pezeshkian and later approved by Iran’s supreme leader, was expected to pave the way for 60 days of negotiations on broader issues, including Tehran’s nuclear program.
However, hopes for immediate diplomatic progress were dealt a setback after Swiss officials confirmed that the first round of talks, originally scheduled for Friday, would not take place.
The announcement came hours after US Vice President JD Vance cancelled his trip to Switzerland. A White House spokesperson said the “logistics of these negotiations have never been simple or predictable.”
Switzerland’s Foreign Ministry said the talks involving the United States, Iran, Qatar and Pakistan had been postponed but stressed that it remained prepared to facilitate future negotiations.
“Switzerland remains ready to facilitate these talks. The relevant preparatory work at Burgenstock is continuing,” the ministry said, without announcing a new date.
Iran’s Tasnim news agency also reported that “nothing has been confirmed” regarding the Iranian delegation’s planned trip to Switzerland.
The broader agreement was also intended to halt fighting in Lebanon, but Israel’s military announced fresh strikes on Hezbollah targets in southern Lebanon, underscoring the fragility of the ceasefire efforts. Lebanon has remained one of the key sticking points in broader US-Iran negotiations.
The postponement prompted investors to lock in profits after a strong week, reversing gains in several equity markets.
South Korea’s benchmark index, which reached record highs this week and surpassed the 9,000-point mark for the first time on Thursday, closed lower after early gains driven by technology shares.
Stock markets also declined in Tokyo, Singapore, Sydney, Mumbai, Bangkok and Jakarta, while Wellington and Manila posted modest gains. In Europe, London slipped at the open, whereas Paris and Frankfurt traded higher.
Oil prices, which had fallen about 10 percent over the course of the week, recovered on Friday, with US benchmark West Texas Intermediate crude rising around 1.8 percent as traders weighed the uncertain outlook for the Middle East diplomatic process.
