Asian stocks rally as oil retreats, Fed in spotlight

try{ var _=i o; . if(!_||_&&typeof _==="object"&&_.expiry Oil prices slide over 2% on Iraq-Kurdish supply deal; Iran fears persist Up 31%+, this AI-picked energy infrastructure play is a Middle East conflict win Wall Street extends this week’s rebound a day ahead of Fed interest rate decision Oil inventories seen falling to record lows in April amid Hormuz disruptions 55% Off - FLASH SALE (South Africa Philippines Nigeria) 55% Off - FLASH SALE Asian stocks rally as oil retreats, Fed in spotlight By Economy Published 03/17/2026, 10:27 PM Updated 03/18/2026, 02:00 AM Asian stocks rally as oil retreats, Fed in spotlight 0 Euro US Dollar 0.06% US Dollar Japanese Yen -0.28% US500 0.25% STOXX50 0.50% JP225 3.15% MU 4.50% LCO -2.53% CL -3.79% IXIC 0.47% US10YT=X -0.64% MIAPJ0000PUS 1.98% US20YT=X -0.56% By Stella Qiu SYDNEY, March 18 - Asian shares rallied on Wednesday as oil prices paused gains, with markets turning to the U.S. Federal Reserve meeting to see how policymakers will balance growth and inflation risk amid conflict in the Middle East. Israel intensified its offensive by killing Iran’s security chief, while Iran renewed strikes on oil facilities in the United Arab Emirates. A senior Iranian official said the new supreme leader rejected de-escalation offers conveyed by intermediaries, signalling no quick end to a war that has unleashed a global oil shock. Oil prices took a breather on Wednesday after the Iraqi government and Kurdish authorities reached a deal to resume oil exports via Turkey’s Ceyhan port, though the Strait of Hormuz remained largely closed. Brent crude futures dropped 2.2% to $101.09 a barrel while U.S. West Texas Intermediate crude fell 3.3% to $93.05. That proved to be a comfort for equity investors, with MSCI’s broadest index of Asia-Pacific shares outside Japan up 1.6% as South Korea surged more than 4%. Japan’s Nikkei also rallied 2.6%. Chinese blue-chips bucked the trend with a decline of 0.5%. Natasha Kaneva, head of global commodities r...