News Desk
TOKYO: Crude oil prices surged sharply on Monday as markets reacted to escalating tensions in the Middle East following US and Israeli strikes on Iran, sending shockwaves through global equities.
Brent crude, the international benchmark, jumped as much as 13% in early Asian trading before easing to a roughly 5% gain, reaching $76.48 per barrel by midday Tokyo time. Analysts attributed the spike to concerns over potential disruptions to energy supply from the region.
Asian stock markets opened lower amid uncertainty. Hong Kong’s Hang Seng Index fell about 2%, while Japan’s Nikkei 225 dropped roughly 1.5%. US stock futures reflected similar caution, with S&P 500 and Nasdaq Composite futures down around 0.7% each, signaling expectations of a choppy session on Wall Street.
Investors are closely monitoring the geopolitical situation, energy supply risks, and the possibility of sanctions, all of which could have wider repercussions for commodities and global financial markets.
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