Market Fluctuations Amid Middle East Tensions

Stock markets made gains following President Trump's decision to delay involvement in the Israel-Iran conflict. Oil prices dropped sharply, reflecting reduced fears of escalation. European foreign ministers aimed to re-establish diplomatic talks with Iran, while global markets showed mixed responses amid fluctuating oil and gold prices.

Global stock markets experienced an uptick on Friday, buoyed by President Trump's announcement to postpone a decision on U.S. military involvement in the ongoing Israel-Iran conflict. The delay provided temporary relief to jittery investors concerned about escalating Middle Eastern tensions.

Despite ongoing hostilities between Israel and Iran, which included airstrikes and missile exchanges, U.S. markets remained closed. European and Asian markets responded positively, with major indices rising as European ministers convened in Geneva to initiate diplomatic discussions with Iran over its nuclear program.

Oil prices, initially plummeting to their lowest since April, began recovering following the White House statement. Analysts attribute the rebound to reduced fears of U.S. intervention. Nonetheless, the complexities of the Middle East conflict continue to pose significant risks to global commodities and financial systems.

(With inputs from agencies.)