Oil falls as Iran-US talks raise easing hopes

April 24, 2026 / 6:38 PM

Sharjah24-AFP: Crude prices fell after reports that Abbas Araghchi was expected in Islamabad for a possible second round of talks between the United States and Iran. The development fuelled optimism that negotiations could help de-escalate the conflict and restore stability to energy markets.

As a result, Brent crude fell below $100 per barrel after earlier gains, driven by concerns about continued disruptions in the Strait of Hormuz.

Stocks show mixed performance

Global equities traded mixed, with the Nasdaq Composite up 0.7% in early New York trading. Gains were led by semiconductor stocks, particularly Intel, whose shares surged 25% after beating quarterly earnings expectations.

Meanwhile, Microsoft shares rose, while Meta slipped after announcements of workforce reductions, as both companies continue to invest heavily in artificial intelligence.

AI sector drives market optimism

Investor sentiment remains supported by strong demand in the AI sector, with semiconductor stocks extending a record rally. Analysts noted that recent job cuts at major tech firms are more linked to post-pandemic adjustments than to AI-driven restructuring.

European markets under pressure

European markets were mostly lower, with Germany’s DAX holding steady despite weak business-sentiment data. Clemens Fuest warned that the ongoing Iran crisis is weighing heavily on the German economy, fuelling pessimism among businesses.