Summary Escalating US-Iran tensions lifted global oil prices, while Asian stock markets closed mixed as investors weighed geopolitical risks and broader market sentiment.
LONDON (Dunya News) - Global oil prices extended their gains on Wednesday as escalating tensions between the United States and Iran raised concerns over energy supplies, while Asian stock markets ended the day with mixed performances amid cautious investor sentiment.
In international trading, US West Texas Intermediate (WTI) crude rose 41 cents to $79.75 per barrel, while Brent crude gained 48 cents to trade at $85.21 per barrel.
Market analysts said growing geopolitical tensions in the Middle East continued to support crude prices as investors monitored developments that could disrupt global energy supplies.
Asian equity markets, meanwhile, showed a mixed trend as investors remained cautious despite gains in several major regional indices.
Japan's Nikkei Index surged 1,008 points to close at 68,751, while South Korea's Kospi Index advanced 427 points to finish at 7,284.
Hong Kong's Hang Seng Index also ended higher, rising 340 points to 24,681, whereas China's Shanghai Composite Index slipped 11 points to 3,955.
Analysts said investors continued to balance optimism over economic fundamentals against concerns surrounding geopolitical developments, with the evolving US-Iran situation remaining a key factor influencing global financial and commodity markets.
