Asian stock markets opened the trading week with sharp declines, while oil prices surged toward $80 a barrel, amid turmoil in the Strait of Hormuz, according to N12 market reports.
Oil prices had already surged toward $80 earlier Monday morning amid strikes in Iran, as The Zioneer reported at 07:21 Jerusalem. The opening of Asian trading sessions confirmed the trend, with sharp declines across stock markets and crude approaching the $80 mark. The turmoil in the Strait of Hormuz — a key global oil shipping chokepoint — is driving the selloff in equities and the spike in crude. No further details on the specific events in Hormuz have been reported. The moves extend a volatile period for energy and equity markets that has been shaped by regional tensions and diplomatic developments.
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