INPEX (1605.T) rebounded sharply on August 18, briefly rising 95 yen, or 2.51%, from the previous day to 3,870 yen, its highest level in roughly three months since late May, as stronger New York crude oil futures boosted expectations for earnings at major resource developers. Japan Petroleum Exploration (1662.T) also drew buying as higher crude prices pulled capital into related names. WTI (U.S. oil benchmark) for September delivery settled $2.10 higher at $84.50 a barrel on August 17, and in after-hours trading on August 18 Japan time New York crude futures briefly reached the low-$85 range. The move was driven by supply concerns as difficulties in talks on extending the memorandum aimed at ending hostilities between the United States and Iran kept uncertainty over the Middle East elevated. Higher crude prices are a tailwind for INPEX because they lift selling prices for its oil output, and market participants expect oil to stay firm while geopolitical risks continue to simmer. At the same time, rising oil prices are pushing up domestic energy costs in Japan, creating pressure on corporate earnings and household budgets, with some profit-taking already seen in transportation and materials stocks. Alongside crude price moves, progress in diplomatic negotiations is likely to remain a key focus for the equity market.