Crude Oil Prices Jump Past Ninety Dollars and Major Asian Stock Markets Drop Following US Iran Military Strikes

Military tensions between the United States and Iran have sharply escalated after American armed forces launched targeted attacks on Iranian rocket launchers positioned on Larak Island in the Strait of Hormuz. Following the American strike, Iran immediately launched a retaliatory attack by firing ballistic missiles directly at two military bases hosting American troops in Jordan.

The fresh military clash sent shockwaves through international commodity and energy markets, causing global benchmark Brent crude oil prices to surge back above ninety dollars per barrel. Energy traders and international shipping companies are deeply worried about possible blockages or supply cuts across key oil transport routes in the Gulf.

The sudden fighting also triggered widespread selling across major Asian stock markets as worried investors moved funds to safe havens. Japan's main Nikkei share index fell by 2.22 percent, wiping out around 24.4 trillion Japanese yen, which equals roughly 165 billion US dollars in market value. At the same time, South Korea's benchmark KOSPI index slid by 3.46 percent, erasing approximately 103.8 trillion Korean won, or about 72 billion US dollars in investor wealth in just one day.