Asian stock markets face a tough week, while oil prices are expected to record strong gains amid Middle East conflict.

SmartContractAuditor · 2026-03-06T07:01:17+00:00

The article mentions that oil prices slightly declined on Friday, providing a breather for global stock markets, but Asian stocks still face pressure from the largest decline in six years. The U.S. government may intervene in the futures market to curb rising oil prices, which have increased nearly 20% this week. Analysts point out that the market is currently in a wait-and-see mode.

SmartContractAuditor

2026-03-06 07:01:17

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Odaily Planet Daily News: Oil prices slightly declined on Friday, providing a brief respite for the battered global stock markets. However, due to little sign of easing in the Middle East conflict, Asian stock markets are still set to record their largest weekly decline in six years. Reports indicate that the U.S. government is considering possible intervention in the futures market to curb rising oil prices, leading to a drop in oil prices. Nonetheless, this week will still see the largest weekly increase since the Russia-Ukraine conflict began; oil prices have risen nearly 20% this week. Pepperstone senior research strategist Michael Brown stated that oil prices are temporarily consolidating and oscillating around current levels, as cautious sentiment currently dominates. PGIM Fixed Income Chief Global Economist Dalip Singh said that the market needs to assess a range of more extreme scenarios, but there is currently very little reliable information about the likelihood of each extreme event and its transitional phases. (Jin10)

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