Oil prices surged after renewed doubts over a potential agreement between the United States and Iran to end the Middle East conflict. Brent crude climbed back above 100 dollars per barrel as traders reacted cautiously to conflicting signals about diplomatic progress and ongoing attacks on energy infrastructure.

While President Donald Trump delayed threatened strikes on Iranian energy sites and described talks as 'very good', Iranian officials denied that negotiations were taking place. Reports of fresh strikes on gas facilities and a pipeline further unsettled markets, reinforcing concerns that the conflict could continue and disrupt supplies, including through the strategically vital Strait of Hormuz.

Stock markets in Europe and the United States were largely steady after earlier gains, while Asian equities closed higher. However, fresh economic data pointed to slowing business activity in both the eurozone and the United States in March, as rising energy costs and supply chain disruptions weighed on growth. Airlines also faced pressure from extended flight suspensions across the Middle East, contributing to declines in airline shares.