Oil tops $115 as Asia markets slip

Global oil prices surged while Asian stock markets fell sharply on Monday as the US–Israel conflict with Iran entered its fifth week, increasing uncertainty across financial markets. Investors reacted cautiously to the escalating geopolitical tensions, leading to heavy selling pressure in equities across Asia. Brent crude rose more than 3% to cross $115 per barrel, while US oil prices climbed to around $103 after gaining nearly 3.5%, putting Brent on track for its strongest monthly rise. At the same time, Asian indices opened lower, with Japan’s Nikkei 225 dropping about 4.5% and South Korea’s Kospi declining nearly 4% as market sentiment weakened.

The conflict intensified after Iran-backed Houthi rebels launched strikes on Israel over the weekend, while Iran warned of expanding retaliatory actions against US and Israeli targets. The US signaled a tougher stance by suggesting possible control over Iran’s oil infrastructure, and it also deployed additional troops to the Middle East, raising fears of a wider regional conflict. Meanwhile, Iran threatened to disrupt shipping through the Strait of Hormuz, a vital route for nearly 20% of the world’s oil supply, further fueling concerns over energy security.

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Oil above $115, Asia markets fall

Global energy markets became highly volatile as risks also increased around the Bab al-Mandeb strait, which could impact another significant portion of oil shipments. Analysts warned that continued escalation may push oil prices toward $130 per barrel in the coming weeks. Rising fuel costs are expected to strain global supply chains, increase inflation, and slow economic growth, as consumers worldwide face higher expenses on energy and essential goods.

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