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Turmoil in Asian Markets, Japan's Nikkei Plunges 5%, South Korea's KOSPI Down by 4%, Oil Surges to USD 115
Brent crude rose nearly 3% to $115.86 per barrel amid missile attacks by Iran-aligned Houthis on Israel, intensifying Middle East conflict and disrupting oil shipments.
- On Monday, Brent crude rose above $115 a barrel and Asian stocks fell sharply after Yemen's Houthis launched missiles at Israel over the weekend, opening a new front in the US-Israel war with Iran.
- This escalation follows the ongoing US-Israel war with Iran, which intensified after 3,500 American troops arrived in the Middle East as Iran's parliament speaker warned they are 'waiting for American soldiers.'
- West Texas Intermediate futures gained 3.20% to $102.80, while Japan's Nikkei dropped more than 4.5% and South Korea's Kospi fell 3.5% during early Asia trading.
- Houthi spokesperson Yahya Saree claimed the missiles targeted 'sensitive Israeli military targets' in support of Iran and Hezbollah, while Iran's parliament speaker warned forces are 'waiting for American soldiers.'
- Yardeni Research president Ed Yardeni warned that a continued blockade of the Strait of Hormuz could deepen market pullbacks and sustain 'higher-for-longer' oil prices amid prolonged conflict uncertainty.
14 Articles
14 Articles
Japan and South Korea, which are heavily dependent on oil imports, are responding to developments in Iran. Investors and governments are switching to crisis mode.
Oil jumps, stocks slide ahead of U.S. stock market open as Iran war rounds one month
Global oil prices jumped and U.S. stock futures slid ahead of Monday’s market open after the weekend saw Iran-backed Houthi militants launch ballistic missiles at Israel and 3,500 additional U.S. troops arrive in the Middle East as the conflict rounded one month.
Turmoil in Asian Markets, Japan's Nikkei Plunges 5%, South Korea's KOSPI Down by 4%, Oil Surges to USD 115
Get latest articles and stories on Business at LatestLY. Asian markets witnessed sharp selling pressure on Monday morning, with major indices declining significantly amid rising energy prices and escalating tensions in West Asia. Business News | Turmoil in Asian Markets, Japan's Nikkei Plunges 5%, South Korea's KOSPI Down by 4%, Oil Surges to USD 115.
Oil prices rise again as the Iran war enters its 5th week
Oil prices rose above $115 per barrel when markets reopened for the week.Mario Tama/Getty ImagesOil prices rose about 3% to over $115 a barrel on the first trading day of the week.The US and Israel's war on Iran entered its 5th week.Gas prices in the US are now averaging almost $4 per gallon.Oil prices rose on Monday after the Iran-backed Houthis in Yemen launched cruise missiles and drones at Israel, marking their entry into the war.Brent oil r…
Global oil prices up 3% as Iran war escalates, Yemen's Houthis launch attacks on Israel
Crude oil rose over 3% as Yemen’s Houthis launched missile and drone attacks on Israel, raising fresh supply concerns at key global choke points and heightening risks for import-dependent India.
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