Asian stocks are mixed as the Iran war standoff pushes oil prices higher
Asian stocks were mixed as oil prices rose due to stalled talks on ending the US-Iran war, with Brent crude up 2 cents at $99.37 a barrel. The global energy shock caused by the war has threatened to worsen inflation and shaken world markets.
Asian stocks were mixed on Friday as oil prices extended their gains amid stalled talks on ending the US-Iran war. Tokyo's Nikkei 225 gained 1% to 59,716.18, while Hong Kong's Hang Seng added 0.2% to 25,976.65. The Strait of Hormuz remains largely closed, and a US sea blockade of Iranian ports is still in effect. Oil prices have remained elevated since the war began on February 28. The price for Brent crude to be delivered in June rose 3.1% on Thursday to settle at $105.07. The global energy shock has threatened to worsen inflation and shaken world markets. US futures wavered after Wall Street pulled back from its all-time highs.
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