Oil edge higher, global stocks mixed

Friday, 22 May 2026 00:00 - - {{hitsCtrl.values.hits}}

Oil prices edged higher Thursday after a sharp sell-off in the previous session, while Japanese and South Korean stocks rallied after US chipmaker Nvidia beat forecasts in its latest earnings report.

International benchmark Brent crude rose around 1.3% to $106.5 per barrel by 7:10 a.m. GMT, while U.S. benchmark West Texas Intermediate (WTI) climbed to $99.8, as uncertainty lingers over a possible deal to end the Iran war and reduce tensions around the Strait of Hormuz.

Among major Asian equities, Japan’s Nikkei 225 jumped 3.1% to 61,684.14 points, while South Korea’s KOSPI surged 8.4% to 7,815.59, as investors piled into chip and tech stocks after Nvidia posted $81.6 billion in first-quarter revenue and delivered a strong AI-driven outlook.

Hong Kong’s Hang Seng index slipped 1%, and China’s Shanghai Composite lost 2%. European markets also opened lower, with the Stoxx Europe 600, Germany’s DAX 30, the U.K.’s FTSE 100, France’s CAC 40 and Spain’s IBEX 35 all edging down.

US stock futures were lower, with S&P 500 futures down 0.1%, Nasdaq 100 futures falling 0.2% and Dow futures slipping 0.2%.