Norwegian housing market and oil prices shift as US jobs and Middle East tensions stir markets

A crisis meeting in Norway focused on the latest housing‑price statistics, U.S. employment data and President Donald Trump's proposed tariff. Analysts said market volatility remains, but expectations of a quick de‑escalation in the Middle East have tempered risk.

Trump announced the suspension of a planned Israeli‑U.S. strike on Iran’s energy infrastructure, easing fears that pushed oil to about $89 a barrel. Nordea senior macro strategist Sara Midtgaard noted the new statements removed some acute risk, while Handelsbanken chief economist Marius Gonsholt Hov said a lasting market reprieve will depend on concrete progress toward a peace framework.

Regional housing trends show strong price gains in Stavanger, Bergen and Tromsø, driven by oil‑sector activity and tourism, whereas Oslo continues to see price pressure from higher interest rates. Eiendom Norge will release July housing‑price data later this week.