Global markets begin May on an uneasy footing, with the Middle East conflict dominating the outlook and keeping oil prices volatile.
The ongoing Iran crisis has heightened concerns around supply disruptions, shipping routes and inflation, prompting fresh engagement between US President Donald Trump and major energy executives, including Chevron, on stabilising markets.
Brent crude remains elevated after sharp swings in the previous session.
In Asia, trading is slightly firmer, supported by record closes on Wall Street and thin holiday volumes.
Meanwhile, in Japan, companies are accelerating the shift toward automation as labour shortages deepen.
Trump leans on oil chiefs
Trump’s meeting with Chevron and other energy leaders says a lot about how Washington is handling the Iran shock.
The talks covered US oil production, futures, shipping and natural gas, with the White House focused on what it would take to keep pressure on Tehran while limiting the damage to American consumers.
Officials also pointed to tools already in play, including a Jones Act waiver, Strategic Petroleum Reserve loans and looser refinery rules.
The message is clear: the administration wants leverage over Iran, but it also wants to stop the oil spike from becoming a political problem at home.
Oil remains volatile
Oil is still trading like a headline market.
Brent jumped to $126.41 a barrel on Thursday, its highest since March 2022, before easing to $114.01 as the July contract took over from the expiring June contract.
West Texas Intermediate also swung sharply, closing at $105.07 after touching $110.93 intraday.
By Friday morning, Brent was around $111.66 and US crude at $105.53, which shows how quickly the market is resetting rather than calming down.
The Strait of Hormuz remains closed, Trump is due more briefings on military options, and Iran is warning of retaliation if attacks resume.
Asia catches a lift
Asian equities are starting the session with a modest bid, even though many markets are shut for May Day.
Tokyo’s Nikkei 225 rose 0.7% to 59,687.65, while Australia’s S&P/ASX 200 climbed 1% to 8,750.40.
US futures are also higher after Thursday’s record closes on Wall Street, where strong profits from Alphabet, Caterpillar and others helped the S&P 500 finish its best month in more than five years.
The catch is that oil is still high enough to keep inflation fears alive. So this is not a clean risk-on move.
It is a thin-holiday rally, helped by earnings and a brief pause in the worst of the energy panic.
JAL turns to robots
Japan Airlines is moving ahead with a test that feels very much like the future arriving early.
The carrier and a robotics company will trial humanoid robots at Tokyo’s Haneda Airport next month, with the machines helping with baggage handling, cabin cleaning and ground support equipment.
The video teaser and industry coverage frame the move as part of Japan’s broader labour squeeze, where airport work is physically demanding and staffing is getting harder.
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