Global markets opened Friday under pressure as geopolitical tensions in the Middle East continued to shape investor sentiment.
Asian equities slid for a second straight week while oil hovered near the key $100 per barrel level amid fears of prolonged supply disruptions.
Meanwhile, a temporary US waiver allowing purchases of Russian oil already stranded at sea helped ease crude prices slightly and triggered moves across several markets, including a rally in Bitcoin.
At the same time, China’s technology giants are escalating competition in the fast-growing agentic AI space with new consumer apps designed to expand adoption.
Asian markets slump as oil shock fuels inflation fears
Asian stocks fell on Friday and were poised for a second consecutive weekly decline as hopes of a resolution to the US-Israel war with Iran faded, keeping oil prices elevated and raising concerns about global inflation.
MSCI’s broadest index of Asia-Pacific shares slipped 1% and was on course for a 1.6% loss for the week.
Japan’s Nikkei dropped 1.29%, while South Korea’s Kospi declined 1.91%.
Taiwan equities also fell about 0.54%. India’s Nifty was also down by 1.06%.
Investors remain focused on the potential for prolonged disruptions to oil supply after Iran stepped up attacks across the Middle East.
Iran’s new Supreme Leader Mojtaba Khamenei has vowed to keep the Strait of Hormuz shipping lane closed, raising fears of further energy price spikes.
Oil prices remained near the closely watched $100 per barrel level.
Brent crude was last trading around $99.93 per barrel while West Texas Intermediate hovered near $94.85.
The rising energy costs have also shifted expectations around global monetary policy.
Markets have rapidly repriced expectations for Federal Reserve rate cuts this year.
Bond markets have also reacted.
The two-year US Treasury yield reached a six-month high earlier in the week and has risen 35 basis points since the war began.
US temporarily allows purchases of Russian oil at sea
In a move aimed at easing pressure on global energy markets, the United States has temporarily authorized countries to buy Russian oil cargoes that are already stranded at sea.
Treasury Secretary Scott Bessent said the measure is intended to stabilize prices following disruptions caused by the conflict in the Middle East and tensions around the Strait of Hormuz.
According to Bessent, the Treasury is providing “a temporary authorization to permit countries to purchase Russian oil currently stranded at sea.”
He described the move as a “narrowly tailored, short-term measure” that applies only to oil already in transit and “will not provide significant financial benefit to the Russian government.”
The authorization will remain in effect until April 11.
Ship-tracking data compiled by Bloomberg indicates that roughly 30 tankers carrying Russian crude and fuel are currently in Asian waters.
These vessels hold at least 19 million barrels of crude and about 310,000 tons of refined products, mostly naphtha used in plastics production, along with some diesel.
The announcement helped cool oil markets slightly. After surging nearly 10% earlier, West Texas Intermediate crude fell by about $2 to around $95 per barrel.
Authorities are also taking other measures to address the energy shock.
The International Energy Agency said it would release a record 400 million barrels of oil to help ease supply constraints.
Meanwhile, several Asian governments have introduced fuel-saving policies.
The Philippines announced a four-day workweek for public workers to reduce fuel consumption, while Japan, South Korea, and Thailand introduced caps on petrol prices.
Bessent also said the US would begin escorting vessels through the Strait of Hormuz “as soon as it is militarily possible.”
Bitcoin rallies after Bessent comments calm markets
Cryptocurrency markets also reacted quickly to the US announcement.
Bitcoin surged late Thursday after Bessent’s comments on stabilizing oil supply, briefly climbing above $72,000 before holding gains into Friday trading.
The cryptocurrency was trading around $71,530 after rising as much as 3%.
“To increase the global reach of existing supply, the US Treasury is providing a temporary authorization to permit countries to purchase Russian oil currently stranded at sea,” Bessent wrote in an X post.
He also suggested that the recent surge in oil prices should be viewed as temporary.
“The temporary increase in oil prices is a short-term and temporary disruption that will result in a massive benefit to our nation and economy in the long-term.”
Despite geopolitical tensions, digital assets have shown resilience compared with traditional markets.
Bitcoin had previously fallen to roughly half of its all-time high above $126,000 reached in October before beginning a gradual recovery.
Institutional demand has also returned.
US-listed spot Bitcoin exchange-traded funds are on track for a third straight week of net inflows, attracting about $529 million so far this week.
Alibaba launches app amid China’s OpenClaw AI boom
In China’s technology sector, competition around agentic artificial intelligence is intensifying.
Alibaba Group Holding Ltd. launched a mobile application called “JVS Claw” designed to help users install and deploy OpenClaw within minutes.
The app allows iOS and Android users without coding experience to instruct AI agents to perform tasks such as shopping online or booking travel.
The service is free for 14 days.
The launch comes shortly after Baidu released its own Android app for OpenClaw, highlighting the growing competition among China’s tech companies.
Companies including Tencent Holdings and Minimax Group are also offering OpenClaw services as part of a nationwide craze dubbed “raising lobsters,” named after the assistant’s animal mascot.
The surge in interest has fueled a rally in related stocks as investors bet that agentic AI could push artificial intelligence further into mainstream usage.
Authorities, however, are taking a cautious approach.
While several municipalities are offering subsidies to encourage OpenClaw development, Beijing has restricted state-run enterprises and government agencies from installing such apps on office computers due to cybersecurity concerns.
The post Morning Brief: Asian stocks fall; Bitcoin jumps after US oil waiver appeared first on Invezz