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Firefighters inspect destruction at a site of an Israeli airstrike in the southern suburbs of Beirut on March 3, 2026. The war launched by the U.S. and Israel against Iran has spread across the Middle East, threatening to plunge the global economy into chaos, with Lebanon and Gulf energy exporters dragged into the conflict.
- | Afp | Getty Images
Asia-Pacific markets were set to open mixed Friday, as tensions in the Middle East continue to test a fragile two-week ceasefire between the U.S. and Iran.
The Iran conflict, which has been going on for more than a month, led to the closure of the crucial energy waterway, Strait of Hormuz.
Tehran agreed to reopen the strait for the next two weeks as long as all attacks on the country were halted, according to a statement from its foreign minister. Media reports said that Israel had also agreed to the ceasefire. That followed U.S. President Donald Trump agreeing to pause attacks on Iran.
The West Texas Intermediate was up 0.62% at $98.48 per barrel as of 7.50 p.m. ET. Brent crude ended the session at $95.92 per barrel.
Japan's Nikkei 225 is set to fall with the Chicago contract at 56,545 and its Osaka counterpart last trading at 56,700, compared to the index's previous close of 55,895.32
Hong Kong Hang Seng index futures were last at 25,900, compared with the index's Thursday close of 25,752.40.
In Australia, futures for the benchmark index last traded at 8,995, while the S&P/ASX 200's closed at 8,973.20.
Overnight on Wall Street, oil prices came off their highs of the day while the S&P 500 traded into the green.
The S&P 500 ended the session at 6,824.66, adding 0.62%, while the Nasdaq Composite gained 0.83% to 22,822.42. The Dow Jones Industrial Average rose 275.88 points, or 0.58%, and settled at 48,185.80. The 30-stock index turned positive for the year, up 0.25%.
— Sean Conlon and Lisa Kailai Han contributed to the report
