World shares are mixed following Wall Street's losses, as oil continues
to climb
[March 06, 2026] By
CHAN HO-HIM
HONG KONG (AP) — World shares were mixed Friday following a retreat on
Wall Street, while the price of oil resumed its upward climb, hitting
its highest level in nearly two years.
U.S. futures fell as the war with Iran entered its seventh day, with
Israeli airstrikes pounding the capitals of Iran and Lebanon. The future
for the S&P 500 dropped 0.3% while that for the Dow Jones Industrial
Average was down 0.2%.
In early European trading, Britain’s FTSE 100 added 0.1% to 10,423.95.
Germany's DAX slipped 0.2% to 23,775.35, while the CAC 40 in Paris fell
0.2% to 8,030.10.
In Asian trading, South Korea’s Kospi edged up less than 0.1% to
5,584.87, after a roller coaster week with a record 12% loss on
Wednesday followed by a nearly 10% rebound on Thursday. The index had
shot above 6,000 in recent weeks before the war began to rattle
financial markets.
Tokyo’s Nikkei 225 index gained 0.6% to 55,620.84.
Hong Kong’s Hang Seng jumped 1.7% to 25,757.29, while the Shanghai
Composite index rose 0.4% to 4,124.19.
Australia’s S&P/ASX 200 declined 1% to 8,851.00.
Taiwan’s Taiex shed 0.2% and India's Sensex lost 0.8%.
Oil prices rose after dipping earlier after soaring earlier this week as
production and supply worries over the war with Iran intensified.
Benchmark U.S. crude surged 4.1% to $84.36 per barrel. Brent crude, the
international standard, gained 1.7% to $87 per barrel. It was trading
near its its highest level since April 2024.
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 If oil prices spike further, perhaps
to $100 per barrel, and remain at that level, some analysts and
investors expect that would weigh on global economic growth.
Uncertainty over what will happen with the war has caused frenetic
swings across financial markets this week.
Before oil prices started rising again, ING
analysts Warren Patterson and Ewa Manthey wrote in a note that
Friday's brief easing of crude prices followed a 30-day temporary
waiver from the U.S. for Indian refiners to buy Russian oil. It's
not a “game-changer,” they said, but reflects U.S efforts to cap oil
prices.
Oil prices will hinge on a steady resumption of oil flows through
the Strait of Hormuz following disruptions of tanker activities
there, the ING analysts wrote. Roughly one fifth of the world’s
seaborne oil is estimated to flow through the waterway located
between Iran and Oman.
On Thursday, the S&P 500 fell 0.6% and the Dow industrials lost
1.6%. The Nasdaq composite dropped 0.3%.
Airline stocks were among Wall Street's biggest losers, as higher
oil prices pushed up fuel costs while hundreds of thousands of
passengers have been stranded across the Middle East due to the war.
American Airlines fell 5.4%, United Airlines lost 5% and Delta Air
Lines was down 3.9%.
In other dealings early Friday, the U.S. dollar rose to 157.84
Japanese yen from 157.56 yen. The euro fell to $1.1582 from $1.1611.
The price of gold rose 0.4% and the price of silver climbed 1.1%.
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