Global oil prices declined and US stock futures trimmed earlier losses on Thursday after President Donald Trump signaled a willingness to allow time for diplomatic negotiations with Iran before making any decision on potential military action, the Wall Street Journal reports.
The easing in market tension followed comments from White House Press Secretary Karoline Leavitt, who said Trump would make a decision “within two weeks.” The president has frequently used this timeframe in prior decision-making scenarios, prompting analysts to interpret it as a signal that immediate strikes are not imminent.
As the conflict between Israel and Iran enters its second week with continued exchanges of fire, attention is shifting to diplomatic efforts. European foreign ministers are scheduled to meet with Iranian officials in Geneva on Friday to push for de-escalation and discuss potential rollbacks of Tehran’s nuclear activities.
Brent crude, the global oil benchmark, fell 2% on Friday, reversing part of Thursday’s gains. The pullback reflects investor relief over a potential pause in military escalation, which had previously driven energy prices sharply higher.
In US markets, futures for the Dow Jones Industrial Average, S&P 500, and Nasdaq-100 dipped by about 0.2% in early trading. The markets reopened Friday following the Juneteenth holiday, with corporate earnings reports from Kroger, Accenture, and Darden Restaurants among the day’s highlights.
Other financial indicators showed modest moves: the US dollar softened slightly, Treasury yields were mostly steady, and Bitcoin prices rose toward $106,000. Globally, market reactions were mixed, with Europe’s Stoxx 600 and Hong Kong’s Hang Seng Index posting gains, while Japan’s Nikkei edged lower.
Meanwhile, trade tensions remained a background concern. On Thursday, Canada introduced new import controls and other support measures aimed at protecting its domestic steel industry, which has struggled under US tariffs of up to 50%.
