Asian Stocks Fall as Oil Prices Rise on Middle East Doubts
Asian markets fell Thursday as oil prices rose amid doubts over a Middle East truce. Investors fear high energy costs will keep global inflation elevated.
Asian share markets were in a sober mood on Thursday as cracks quickly began to appear in the fragile Gulf truce, nudging oil prices back up and reminding investors the inflationary fallout would last a long time yet. Crucially, there was scant sign that the Strait of Hormuz was open in any meaningful way, with Iran flexing its control over the vital oil artery and demanding tolls for safe passage.
United States President Donald Trump took to social media to declare U.S. forces would remain in the Gulf until a deal was reached and complied with, otherwise the shooting would begin again. Meanwhile, Israel carried out its heaviest strikes on Lebanon since its conflict with Iran-backed Hezbollah militia began last month, killing more than 250 people on Wednesday.
