Stocks and oil prices hold relatively steady in the countdown to US-Iran ceasefire talks

On 21 April 2026, stocks and oil prices held relatively steady as markets waited for US-Iran ceasefire talks, which remained uncertain. The Associated Press wrote that stocks slipped and oil prices rose on that uncertainty, while Reuters said oil barely moved. The National reported a 5% jump in oil prices, and Times of India wrote that crude fell as the upcoming talks offset supply disruption fears.

Kospi closed at a record high, and Pakistan's PSX extended gains of more than 2,400 points as oil slid on optimism about the talks. Bloomberg's Hormuz tracker showed traffic staying at a trickle of Iran-aligned ships, and a sanctioned Iranian supertanker crossed the Hormuz line hours before the ceasefire deadline. OilPrice put the lost oil supply from the Iran war at $50 billion so far.