Global market wrap: Oil falls as US eyes Iran sanctions relief, Asian stocks mixed

Asia-Pacific markets traded mixed on Friday as investors monitored how the Middle East war could affect global energy supplies. Oil prices fell after major European nations and Japan offered to help secure safe passage through the Strait of Hormuz, reinforcing expectations that the US would take steps to ease supply pressures.

We are back with quick updates about global stock markets and major developments across some of the top companies worldwide.

Asian stocks were mixed on Friday as investors navigated volatile oil prices amid escalating tensions in the Middle East. Regional markets struggled for direction following a weak lead from Wall Street, where equities fell overnight on renewed inflation concerns linked to energy costs.

South Korea’s KOSPI was 0.3% higher at 5,781, supported by gains in the tech sector. Singapore’s Straits Times Index surrendered initial gains and slipped 0.6% to 4,936, and Hong Kong’s Hang Seng was down 0.9% to 25,254.

Stocks in Australia, too, fell on Friday, with the S&P/ASX 200 losing 0.8% to close the session at 8,428. Japanese markets were closed for a public holiday.

Overnight, on Wall Street, the Dow Jones fell 0.4% to 46,021. The S&P 500 dropped 0.2% to 6,606, while the Nasdaq slipped 0.2% to 22,090.

Oil prices fell on Friday as the US and its allies moved to boost supply and ease the Strait of Hormuz blockade. US Treasury Secretary Scott Bessent said Washington could soon lift sanctions on Iranian crude stored on tankers to help ease price pressures. He also added that further releases from the US Strategic Petroleum Reserve were possible.

US West Texas Intermediate for April slipped 0.6% to $95.16 a barrel, while Brent crude erased its early losses and rose 0.2% to $107.81 a barrel

Here’s a look at some of the important developments across the global markets:

Qatar’s LNG capacity cut 17% after Iran strikes, Saudi sees oil surging to $180

Saudi Arabia warned that oil could hit $180 a barrel if supply disruptions from the US-Israel war with Iran continue beyond April, reported the Wall Street Journal, citing Saudi officials. The warning follows a series of strikes, including Israeli attacks on South Pars, the world’s largest gas field, which prompted retaliatory strikes by Iran targeting oil facilities across the region.

The war has also hit Qatar’s liquefied natural gas (LNG) exports. Iranian attacks damaged two of Qatar’s 14 LNG trains and one of its two gas-to-liquids facilities, reducing export capacity by 17% and causing an estimated $20 billion in annual revenue losses, QatarEnergy CEO Saad al-Kaabi told Reuters. The repair work is expected to sideline 12.8 million tons of LNG per year for three to five years, raising concerns over supply to Europe and Asia.

Tesla eyes $2.9 billion solar equipment deal with China to scale US capacity

Tesla is in discussions with Chinese companies to buy about $2.9 billion worth of equipment for solar panel and cell manufacturing, reported Reuters. The suppliers include Suzhou Maxwell Technologies, as the company looks to expand its solar capacity in the United States. The move aligns with Tesla CEO Elon Musk’s plan to scale up solar deployment, targeting 100 gigawatts of capacity. Musk said earlier this year that solar energy could meet the entire electricity demand of the US, including rising consumption from data centres. Job listings on Tesla’s website indicate plans to build 100 GW of solar manufacturing capacity in the US using raw materials by the end of 2028.

Gold plummets Dh33 in a day in Dubai amid US Fed rate move, regional tensions

Gold prices fell sharply in Dubai on Thursday, March 19, dropping more than Dh33 in a single day as global market pressures and regional conflict weighed on the bullion market ahead of Eid Al Fitr. 24-karat gold opened at Dh584.5 per gram but closed at Dh554.25, down from Dh609 earlier in the week. Prices for 22K, 21K, 18K, and 14K gold stood at Dh513.25, Dh492.25, Dh421.75, and Dh329, respectively. The decline followed the US Federal Reserve’s interest rate decision and comes amid the ongoing war in the Middle East, which continues to disrupt markets globally.

OpenAI to merge ChatGPT, browser and Codex into single desktop app

OpenAI plans to combine its web browser, ChatGPT and Codex coding tools into a single desktop application, CNBC reported. The move is aimed at streamlining the user experience and reducing fragmentation across its products. Fidji Simo, OpenAI’s CEO of Applications, will lead the initiative. The company gained widespread attention with the launch of ChatGPT in 2022 and has since grown rapidly into one of the leading players in artificial intelligence.

Amazon acquires Swiss robotics company Rivr to test robots for doorstep delivery

Amazon has acquired Swiss robotics startup Rivr, which develops four-legged delivery robots on wheels. The deal will allow Amazon to test how such machines can be used for doorstep delivery. Amazon said the technology could also help improve safety for delivery drivers. The move is part of Amazon’s broader push to automate more aspects of its logistics and warehouse operations.

Singapore employment grows in 2025, but retrenchments tick up in Q4

Singapore’s labour market expanded in 2025, supported by strong economic growth and steady demand. Resident employment rose by 11,600 during the year, up from 8,800 in 2024, the Ministry of Manpower said in its report released on March 20.

However, signs of softening emerged in the final quarter. Retrenchments edged up to 3,690 in the October to December 2025 period from 3,670 in the previous quarter, while the job vacancy ratio declined on a year-on-year basis.