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HONG KONG — <\/span>Asia shares were mixed Friday following a mild retreat on Wall Street, while the price of oil fell more than $1 after reaching the highest level since the summer of 2024. <\/p>\n U.S. futures edged higher as the war with Iran entered<\/a> its seventh day, with Israeli airstrikes pounding the capitals of Iran and Lebanon. The future for the S&P 500 gained 0.2% while that for the Dow Jones Industrial Average was up 0.3%. <\/p>\n In Asian trading, South Korea\u2019s Kospi slipped 0.8% to 5,536.40, after a roller coaster week with a 12% loss on Wednesday followed by a nearly 10% rebound on Thursday. The index had shot above 6,000 in recent weeks before the war began to rattle financial markets. <\/p>\n Tokyo\u2019s Nikkei 225 index gained 0.4% to 55,518.63.<\/p>\n Hong Kong\u2019s Hang Seng jumped 1.6% to 25,713.49, while the Shanghai Composite index edged 0.1% higher, to 4,113.70.<\/p>\n Australia\u2019s S&P\/ASX 200 declined 1.1% to 8,845.30.<\/p>\n Taiwan\u2019s Taiex traded 0.4% lower, while India’s Sensex lost 0.6%.<\/p>\n Oil prices<\/a> fell Friday in a reprieve from this week’s surges<\/a> as production and supply worries over the war with Iran intensified. Benchmark U.S. crude lost 1.2% early Friday to $80.07 per barrel, after hitting $81.01 a barrel on Thursday.<\/p>\n Brent crude, the international standard, lost 1% to $84.59 per barrel, after reaching $85.41 a day earlier. <\/p>\n If oil prices spike further, like to $100 per barrel, and stay there, some analysts and investors say it could be too much for the global economy to withstand. Uncertainty about what will happen has caused frenetic<\/a> swings across financial markets<\/a> this week, sometimes hour by hour.<\/a><\/p>\n Friday’s easing of crude prices followed a 30-day temporary waiver from the U.S. for Indian refiners to buy Russian oil, analysts at ING Warren Patterson and Ewa Manthey said in a note. It’s not a \u201cgame-changer,\u201d they said, but reflects U.S efforts to cap oil prices.<\/p>\n Oil prices will hinge on a steady resumption of oil flows through the Strait of Hormuz<\/a> following disruptions of tanker activities there, ING analysts wrote. Roughly one fifth of the world\u2019s seaborne oil is estimated to flow through the waterway located between Iran and Oman.<\/p>\n On Thursday, the S&P 500 fell 0.6% to 6,830.71. The Dow industrials lost 1.6% to 47,954.74, and the Nasdaq composite dropped 0.3% to 22,748.99.<\/p>\n Computer chip company Broadcom\u2019s shares jumped 4.8% on stronger-than-expected quarterly profit and revenue, which helped contain the overall losses on Wall Street.<\/p>\n Airline stocks were among the U.S. market\u2019s biggest losers, as higher oil prices pushed up fuel costs while hundreds of thousands of passengers<\/a> have been stranded across the Middle East due to the war.<\/p>\n American Airlines fell 5.4%, United Airlines lost 5% and Delta Air Lines was down 3.9%.<\/p>\n In other dealings early Friday, the U.S. dollar rose to 157.80 Japanese yen from 157.56 yen. The euro was unchanged at $1.1611.<\/p>\n The price of gold rose 1.1% and the price of silver climbed 2.7%.<\/p>\n ___<\/p>\n AP Business writer Stan Choe contributed. <\/p>\n<\/div>\n