Asia shares bounce, others cautious as oil rises
Brent rose 0.54% to $96.80 a barrel as U.S. strikes and Iran’s response raised fears of prolonged disruptions through the Strait of Hormuz.
- On Saturday, U.S. Central Command struck three Iranian oil tankers, destroying one, in retaliation for ballistic missile attacks on American Navy warships.
- Following the weekend maritime attacks, Iran's Supreme National Security Council declared a new restricted zone in the Persian Gulf, raising concerns about shipping disruptions.
- Analytics firm Kpler reported that Strait of Hormuz transit volumes fell to 10 commodity ships daily, the lowest since May, while Brent crude traded near $97 a barrel.
- Rising energy costs have intensified inflation concerns, increasing the likelihood of interest rate hikes by the European Central Bank and the Federal Reserve ahead of Friday's August CPI report.
- Maritime intelligence firm Marisks described the attacks as a "major escalation in the maritime conflict," while ANZ analysts project exports will remain constrained through 2026, with full recovery delayed until 2027.
20 Articles
20 Articles
Markets are hesitant, held back by the oil surge and waiting for US inflation figures. ...
FTSE 100 Live: Stocks to dip as oil rises on new US-Iran strikes
Welcome back to the City AM liveblog. Markets are returning from the weekend to weigh up the latest round of rising tensions in the Middle East after the US and Iran have continued to exchange strikes stoking fears of a hit to global oil supply. Brent crude – the international benchmark for oil prices – [...]
Times of India
BizTocOil extends gains after US and Iran strike ships
Oil prices experienced a significant rise on Monday, following a spike in tensions between the US and Iran. The US struck three Iranian oil tankers in a bold move, while Iran responded by targeting US vessels. Maritime intelligence highlighted an alarming escalation with economic repercussions, as shipments through the Strait of Hormuz reached their lowest levels since May.
Channel News Asia
Asia shares bounce, others cautious as oil rises
SYDNEY, Sept 7 : Asian shares rallied on Monday as the robust U.S. jobs report was seen as positive for global growth even as it narrowed the odds on a rise in interest rates, while oil edged higher after the U.S. and Iran attacked ships in the Gulf.Tehran said it will announce a restricted zone outside the S
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