Asia-Pacific markets rise on hopes for Hormuz reopening
Asia-Pacific markets rose as hopes for a partial reopening of the Strait of Hormuz increased. U.S. crude surged almost 12% to $112.06 per barrel, while Brent climbed 8% to $109.24, indicating strong oil market sentiment.
pre-market1 source ↓written by the desknot a recommendation
- per barrel
- $112.06
- while Brent rose
- 8%
- $109.24
- climbing
- 3.23%
- 225
- 1.27%
Asia-Pacific markets advanced on Friday as hopes grew for the partial reopening of the Strait of Hormuz, following reports of Iran and Oman drafting a transit protocol.
• U.S. crude surged almost 12% to $112.06 per barrel, while Brent rose 8% to $109.24.
• South Korea’s Kospi led the gains, climbing 3.23%; Japan’s Nikkei 225 was up 1.27%.
The reopening could stabilize oil supply and impact global markets significantly.
Not investment advice. For informational purposes only.