Oil prices slip after Iran, Qatar talks, with Asian equities under pressure

Crude futures retreat after Iran-Qatar talks

Oil prices slipped on Monday as Iranian and Qatari officials held a third consecutive day of talks aimed at securing a deal to end the US-Israeli war with Iran. Brent futures fell 1.5% to $111.72 per barrel, while US crude futures declined 1.7% to $102.37 per barrel.

The declines followed a 13.6% increase in Brent during October, leaving crude trading at elevated levels despite the pullback. The available reporting did not provide a separate crude-oil production, supply or inventory development for the period.

High oil prices affect Asian trading

Asian share markets slipped as concerns about the sustainability of the AI investment boom weighed on technology stocks and high oil prices limited the safe-haven appeal of sovereign bonds. Japan’s Nikkei fell 0.5%, South Korea lost 0.8%, and MSCI’s broadest index of Asia-Pacific shares excluding Japan eased 0.4%. South Korea had shed 16% in the preceding month.

European markets showed a more muted response: EUROSTOXX 50 futures firmed 0.1%, while DAX futures were flat. S&P 500 futures rose 0.4% and Nasdaq futures gained 0.6%.

Earnings and spending expectations add volatility

Analysts at Goldman Sachs expect hyperscaler capital expenditure to almost double to $800 billion in 2026 and rise to $1.2 trillion in 2027. The same analysis projected S&P 500 earnings-per-share growth of nearly 30% in 2026, slowing to 18% in 2027.

Goldman’s chief U.S. equity strategist Ben Snider said third-quarter results showed that earnings growth remained strong but was no longer accelerating. He also said the results supported the view that AI investment spending would continue to grow, but that the growth rate of AI capital expenditure was peaking.

Apple, AMD and Palantir were scheduled to report during the week following Intel’s nearly 29% share-price decline on Friday. These earnings releases were upcoming events at the time of the reporting, not completed results.

Upcoming market checkpoints

The next verifiable market signals were the scheduled earnings reports from Apple, AMD and Palantir, along with any further announcements concerning Iran-Qatar negotiations and their effect on crude prices. The reviewed reporting did not specify a further deadline for the talks.