Get the latest news and updates from Dawn
LONDON: Oil prices edged back up and stock markets stabilised on Friday after postponement of US-Iran peace deal talks.
Equities had largely rallied since the two countries announced plans last weekend to end the conflict and reopen the Strait of Hormuz, fuelling global relief after the war triggered energy shortages and surging inflation.
Almost four months of war have seen crude futures tumble on optimism of heralded settlements in sight, only to rise again as such hopes have been repeatedly dispelled. Stock markets have meanwhile benefited from money continuing to pile into the AI sector.
Friday saw oil prices back up slightly as Brent stood up 0.7pc at $80.41 a barrel while West Texas Intermediate gained 0.3pc to $76.85.
