Oil prices rise on US-Iran truce; Asian stocks mixed, tech down

US and Iran have agreed to halt attacks and plan talks in Qatar, easing fears of a broader conflict that had disrupted shipping in the Strait of Hormuz. Oil prices responded, with WTI rising 1.1% to $70.00 a barrel and Brent gaining 0.7% to $72.47 a barrel. Asian markets showed mixed results: Hong Kong, Sydney, Wellington, Taipei and Manila rose, while Tokyo, Seoul, Shanghai, Singapore and Jakarta fell. Technology shares led the declines, with South Korean chip makers SK hynix and Samsung among the hardest hit, amid warnings from the Bank for International Settlements that a prolonged AI investment boom could end in a bust, affecting global financial conditions.

For Nigeria, higher oil prices offer a boost to export revenues, but market volatility and a possible tech‑sector slowdown could affect foreign investment and foreign‑exchange flows. Investors are also watching the upcoming US jobs data due Thursday, which could sway Federal Reserve interest‑rate decisions and influence naira strength and capital flows.

Will the oil price rise translate into real gains for your business or household, or should you brace for possible forex volatility if the Fed keeps rates high? Keeping an eye on both oil trends and the US jobs report may help you prepare.

SOURCE: https://www.channelstv.com/2026/06/29/stocks-mixed-oil-rises-as-us-iran-call-end-to-latest-attacks/