European Shares Seen Tad Higher After Waiver For Russian Oil Purchases

European stocks are seen opening a tad higher on Friday as oil prices fell on news of easing sanctions on Russian oil sales to India.

The United States has given India a waiver to buy Russian oil for 30 days as the Middle East conflict impacts global energy supply.

The Trump administration is considering emergency measures, including state insurance guarantees for tankers and naval escort to counter rising energy prices.

Also, it was said the White House is discussing the possibility of a large-scale release of oil from the Strategic Petroleum Reserve (SPR) in coordination with IEA partners.

Crude prices fell over 1 percent in Asian trade but were on track to post their biggest weekly gain since 2022, driven by large-scale disruptions in energy supplies due to the active phase of the war in the Persian Gulf.

Both Brent crude and WTI crude futures are set to clock a weekly gain of more than 15 percent, marking their largest weekly rise since February 2022.

As the furious military operations in the Middle East region entered 7th day, U.S. President Donald Trump said the U.S. wants to be involved in the process of choosing the person who is going to lead Iran into the future. He also encouraged Iranian Kurdish forces to go on the offensive.

The U.S. military said it struck an Iranian vessel described as a “drone carrier.” Iran said that new inventions are on the wary and it is ready for a long war.

Iran has launched a fresh wave of missile and drone strikes across the Gulf, with attacks reported in the United Arab Emirates, Bahrain, Qatar and Kuwait.

Azeri president sought Iran’s apology for the drone attack in Nakhchivan, but Tehran denied role in the incident.

Asian markets were mixed after Beijing’s strategic commitment to deepen tech investment.

After announcing a conservative 2026 GDP growth target at 4.5-5 percent, China pledged substantial investment in high-tech sectors, benefiting artificial intelligence, chipmakers, and biotech firms.

The dollar firmed and Treasury yields rose as the West Asia conflict escalated, resulting in a sharp spike in oil and gasoline prices and threatening to set off convulsions in the world economy.

Gold prices were up nearly 1 percent in Asian trade but headed for their first decline in five weeks as rate cut expectations fade.

Investors now eye U.S. retail sales, jobs and wage data later in the day for further direction.

U.S. stocks ended lower overnight as attacks in the Middle East spread to more countries and reports emerged that U.S. officials have written draft regulations that would restrict AI chip shipments to anywhere in the world without American approval.

U.S. Treasury yields rose for a fourth day in a row and oil spiked to its highest level since the summer of 2024, fueling inflation concerns and casting doubt on the prospect of immediate interest-rate cuts.

The Dow plunged 1.6 percent to reach its lowest closing level in well over two months while the S&P 500 shed 0.6 percent and the tech-heavy Nasdaq dipped 0.3 percent.

European stocks tumbled on Thursday after U.S. and Israeli airstrikes on Iran turned into a broader regional conflict, disrupting global supply energy chains.

The pan European Stoxx 600 lost 1.3 percent. The German DAX tumbled 1.6 percent, while France’s CAC 40 and the U.K.’s FTSE 100 both fell around 1.5 percent.