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Oil above $115, Asian stocks fall amid escalating conflict with Iran

2026-03-30 14:46:00, Kosova & Bota CNA

Oil above $115, Asian stocks fall amid escalating conflict with Iran

Global oil prices have risen sharply, while stock markets in Asia have fallen, as the conflict between the United States, Israel and Iran has entered its fifth week.

Brent crude rose by over 3%, crossing the $115 per barrel mark, while US crude reached above $101. This development puts Brent on the verge of one of the largest monthly increases in history.

Meanwhile, Asian stock markets reacted negatively: the Nikkei 225 index in Japan fell by 2.8%, while the Kospi in South Korea lost nearly 3%.

The escalation came after Iran-backed Houthi rebels launched attacks on Israel over the weekend, with Tehran warning of expanded retaliation. At the same time, US President Donald Trump said the US could take control of key Iranian oil infrastructure, including Kharg Island.

The tensions have raised fears of disruptions to global energy supplies, particularly in the Strait of Hormuz, a key route through which about a fifth of the world's oil and gas passes. Concerns have also been raised about the Bab al-Mandeb, another important maritime corridor.

Experts warn that prices could rise further if the conflict continues, increasing pressure on the global economy and affecting not only energy but also food prices due to supply chains./ CNA





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