Asian Stocks Mixed as Korean Chipmakers Rally 
Japan, U.S. Stay Aligned on Yen as Currency Surges 
US Stock Futures Mixed as Fed Rate Hike Bets Rise 
Japanese Yen Nears Seven-Month High as Oil Approaches $100 
European Stocks Flat as Iran Tensions, ECB Rate Hike Loom 
China to Inject $45 Billion Into State Financial Institutions 
Brent Oil Tops $100 as Middle East Conflict Threatens Supply 
China Inflation Accelerates in August as CPI, PPI Rise 
Asian Stocks Mixed as AI Chip Rally Meets Oil Surge 
Gold Prices Rebound as Dollar Weakens, Fed Decision Looms 
Oil Prices Rally as Brent Nears $100 on U.S.-Iran Escalation 
Iran Threatens Gulf Energy Assets as U.S. Tensions Escalate 
South Korea GDP Surges on Chip and AI Boom 
China Boosts Gold Reserves by 650,000 Ounces as Prices Rally 
Canada Retaliatory Tariffs on U.S. Goods Take Effect 
Hormuz Shipping Slows as Iran Threats Lift Oil Risks 
UK House Prices Fall for First Time Since 2023 
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Oil prices jumped in early Asian trading Monday after renewed military strikes between Israel and Iran sparked fears of a wider Middle East conflict and potential disruptions to global oil supply. Brent crude rose $1.70 (2.3%) to $75.93 per barrel, while U.S. West Texas Intermediate (WTI) gained $1.62 (2.2%) to $74.60. Earlier in the session, both benchmarks had surged over $4. On Friday, they closed up 7%, with intraday gains exceeding 13%—the highest levels seen since January.
The latest exchange of strikes between Israel and Iran resulted in civilian casualties and intensified concerns of a broader regional war. Both sides issued warnings to civilians, further escalating tensions. The Strait of Hormuz—a strategic chokepoint for global energy flows—is now at the center of attention. Roughly 18 to 19 million barrels of oil and fuel pass through the strait daily, accounting for about 20% of global consumption.
Iran, a key member of OPEC, produces around 3.3 million barrels per day (bpd) and exports over 2 million bpd. A potential disruption in Iranian exports would significantly impact global supply. Analysts say that OPEC+, including Russia, has spare capacity roughly equal to Iran’s output, but any offset could strain global oil balances.
Despite rising global pressure, diplomatic progress appears limited. U.S. President Donald Trump expressed hope for a ceasefire but said conflict might be inevitable. Meanwhile, Iran informed mediators Qatar and Oman it won't enter ceasefire talks while under Israeli attack. German Chancellor Friedrich Merz voiced optimism that the ongoing G7 summit in Canada might help deescalate the situation.
With geopolitical tensions mounting and oil supply routes under threat, market volatility is expected to continue, keeping energy traders and global policymakers on edge.
