May 8, 2026 9:33 AM
Global Oil higher on Mideast hostilities; AI drives Asian stocks to sparkling weekly gains
Oil prices were higher on Friday and stocks a little bit lower as the U.S. and Iran exchanged fire in the Middle East, though many markets in Asia were still heading for stellar weekly gains as AI demand has swept up chipmakers. Benchmark Brent crude futures were up 1.3% at $101.60 a barrel and European stock futures fell 0.7%. The United States and Iran exchanged fire on Thursday in the most serious test yet of their month-long ceasefire, but Iran said the situation had returned to normal whi...