Oil prices edged higher on Friday as uncertainty surrounding U.S.-Iran peace talks and new supply disruptions supported the market. Brent crude gained 0.35% to $95.36 per barrel, while WTI crude traded at $93.06. Despite sharp losses earlier this week, WTI is still up more than 6% and Brent over 3% for the week.
Traders are closely watching developments in the Middle East after Hezbollah rejected a new Lebanon ceasefire proposal. Meanwhile, Oman’s Mina al Fahal oil terminal suspended loading operations following an explosion near its export facilities, raising fresh concerns over global supply.
Global stock markets came under pressure as the AI-driven rally lost momentum. Asian shares fell sharply, with South Korea’s Kospi dropping as much as 7% and Japan’s Nikkei losing 1.6%. The selloff followed weaker-than-expected results from Broadcom, whose revenue reached $22.19 billion but missed forecasts of $22.27 billion. Broadcom shares plunged 12.6%.
Despite the recent market weakness, AI continues to create wealth. According to Capgemini, the number of people with investable assets above $1 million rose by 2 million in 2025 to 25.3 million globally. Their combined wealth increased 8.7% to $98.3 trillion, largely driven by gains in AI-related stocks.
Bitcoin extended its decline for a fifth consecutive day, falling to a four-month low near $61,300. Investors have withdrawn nearly $4.4 billion from U.S. spot Bitcoin ETFs during a record 13-day outflow streak, while almost $4 billion in bullish crypto positions have been liquidated this week. Bitcoin remains roughly 50% below its October 2025 all-time high above $126,000.
Investors are now awaiting U.S. nonfarm payrolls data, with economists forecasting 85,000 new jobs and an unemployment rate of 4.3%. The report could influence expectations for future Federal Reserve policy.
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