US EditionAsia-Pacific markets set to fall as oil tops $100 amid escalating U.S.-Iran tensions
U.S. strikes on Iran's Kharg Island and threats to the Strait of Hormuz drove crude oil above $100 per barrel, raising concerns of major supply disruptions, analysts said.
- On Sunday, U.S. crude oil topped $100 per barrel as the Trump administration weighed strikes on Kharg Island, while Asia-Pacific markets were set to mostly decline Monday amid rising oil prices and U.S.-Iran tensions.
- On Friday, President Donald Trump ordered strikes on Kharg Island and warned of further attacks, while the Strait of Hormuz remains closed, risking over 20% of global oil supply.
- On Wednesday, the IEA approved a 400 million-barrel emergency release that briefly pushed oil below $80 before Brent rose to $106.17, and Australia's S&P/ASX 200 declined 0.31%.
- Goldman Sachs warned rising energy costs may shave about 0.3% off global GDP next year and push headline inflation up roughly 0.5% to 0.6%, while Amazon, Microsoft, and Alphabet face higher data-center power expenses.
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Japan Stocks Face Earnings Risk as Iran Conflict Lifts Oil Costs
(Bloomberg) — Japan’s equity rally built on strong corporate earnings is beginning to look vulnerable as the escalating conflict in Iran pushes crude oil prices higher, stoking concern that rising energy costs could erode profits.
Oil tops US$100 a barrel as Middle East war and Hormuz disruption rattle markets
Oil prices moved back above US$100 a barrel on Monday as the conflict involving the United States, Israel and Iran intensified and shipping disruption in the Strait of Hormuz hit one of the world’s most critical energy chokepoints. Brent crude rose to US$105.15 a barrel and U.S. West Texas Intermediate climbed to US$100.32 in early Asian trading, according to market data.
With average prices at a hundred dollars per barrel the US companies are advantaged, while for motorists they increase more than 20% ...
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