Global financial markets are under pressure as oil prices rise. US and European stock markets closed lower after investors grew concerned about the uncertain US-Iran negotiations, despite President Trump extending the ceasefire period but maintaining the blockade of Iranian ports.
On 22 Apr 2026 GMT+7, international news agencies reported that Brent crude oil prices rose 3.1%, closing at $98.48 per barrel, following a sharp surge the previous day when Iran re-closed the Strait of Hormuz.
Meanwhile, Wall Street initially opened higher but weakened and closed at the day's lowest level, with the S&P 500 index down 0.6%. European stock markets also closed lower, with London and Paris markets falling more than 1%, while Asian markets had closed higher earlier.
Investor concerns arose even though US President Donald Trump announced an extension of the ceasefire agreement with Iran, he maintained the blockade of Iranian ports. Previously, investors had hoped that despite harsh rhetoric from both sides, there was still a chance to reach an agreement to end the conflict and reopen the Strait of Hormuz, a vital route for global oil and gas transport. However, hopes are fading as there is no clarity on whether the new round of talks, to be hosted by Pakistan, will happen soon.
Analysts noted that investors remain cautious because the ceasefire between Iran and the US is still unstable. Nevertheless, the market has not priced in the worst-case scenario and views oil prices staying below $100 per barrel as reflecting hope that the conflict will not escalate further. However, if oil prices remain above $90 for an extended period, it could increase inflation risks and impact the global economy.