Oil prices continued to rise on Friday while global stock markets struggled as investor confidence weakened over the lack of progress in resolving the Middle East crisis.
Market sentiment turned negative as Tehran kept the Strait of Hormuz closed and the United States maintained its blockade of Iranian ports, increasing fears of supply disruptions in global energy markets.
At the beginning of the week, investors were hopeful that both sides would move toward peace talks and a possible agreement to ease tensions. However, those hopes faded as diplomatic progress remained slow and uncertainty continued to grow.
US President Donald Trump added to market concerns by saying he had “all the time in the world,” signaling no immediate urgency for a resolution despite growing fears over the war’s impact on the global economy.
Crude oil prices have now surged by nearly 20 percent over the past week. Just last week, oil had dropped to one-month lows due to optimism that a peace deal could be reached, but the situation has quickly reversed as tensions remain high.
Financial analysts warn that prolonged instability in the region could keep oil prices elevated and continue putting pressure on global stock markets and investor confidence.
