Oil surges past $115 as Iran war escalates; Asia stocks slide
Oil surges past $115 as Iran war escalates; Asia stocks slide
Oil prices jump above $115 as the Iran conflict escalates, stirring volatility in Asian markets and fanning fears of broader Middle East disruption.
Oil prices surged past $115 as the war in Iran escalated, and Asia's stock markets slid on renewed energy-cost fears and the risk of wider confrontation.
Brent crude rose above $110 a barrel and WTI traded above $100, with traders bracing for potential disruptions to oil routes and supply amid the fighting.
The escalation deepened after Iran-backed Houthis joined the war by striking Israel over the weekend, prompting widespread concern about further regional spillovers.
The United States boosted its troop presence in the Middle East, a move that some analysts say could heighten tensions and keep pressure on global oil markets.
Asian shares fell broadly, with energy-related sectors among the hardest hit as investors weighed the impact on growth and prices.
Market watchers say volatility could persist while the trajectory of the conflict remains uncertain, with supply routes, inflation risk and policy responses in focus.
For consumers, the bounce in oil costs could translate into higher gasoline prices and broader inflationary pressures, even as markets seek clarity on the path ahead.
