Oil prices rise as Gulf tensions escalate, Kospi drops
pre-market1 source ↓written by the desknot a recommendation
- per barrel
- $79
Brent crude surged over 4% to near $79 per barrel amid escalating US-Iran tensions, with Iran targeting Gulf states. Asian markets reacted negatively, with South Korea's Kospi plunging around 9%, triggering a circuit-breaker halt. Notably, Samsung Electronics fell over 6% and SK Hynix dropped more than 15% in its largest decline on record.
This volatility may lead to increased caution among traders as energy costs rise and earnings outlooks dim.
Not investment advice. For informational purposes only.