{"id":92556,"date":"2026-07-08T01:31:37","date_gmt":"2026-07-08T05:31:37","guid":{"rendered":"https:\/\/tvdelmarva.com\/wp\/oil-prices-spike-after-u-s-strikes-on-iran-asian-markets-react\/"},"modified":"2026-07-08T01:31:37","modified_gmt":"2026-07-08T05:31:37","slug":"oil-prices-spike-after-u-s-strikes-on-iran-asian-markets-react","status":"publish","type":"post","link":"https:\/\/tvdelmarva.com\/wp\/oil-prices-spike-after-u-s-strikes-on-iran-asian-markets-react\/","title":{"rendered":"Oil Prices Spike After U.S. Strikes on Iran; Asian Markets React"},"content":{"rendered":"\n
\"\"<\/figure>\n\n\n

Asian stock markets delivered a mixed performance on Wednesday as oil prices shot up more than 2% following U.S. military strikes against Iran. The U.S. said Iran had attacked three vessels in the Strait of Hormuz, prompting the military response.<\/p>

U.S. futures showed little movement in early trading.<\/p>

Brent crude, the global oil benchmark, climbed 2.6% to reach $76.09 per barrel early Wednesday. U.S. benchmark crude also rose 2.6%, reaching $72.25 per barrel. Both had recently fallen back to levels seen before the conflict with Iran started in late February.<\/p>

Markets across Greater China moved higher, while most other Asian markets declined.<\/p>

In Japan, the Nikkei 225 slipped 0.3% to close at 68,077.96. South Korea’s Kospi fell sharply, dropping 2.9% to 7,429.13. The South Korean index had previously surged past the 9,000 mark last month before retreating amid heavy selling of major AI-related technology stocks including Samsung Electronics and SK Hynix. Samsung dropped an additional 2.9% Wednesday after falling roughly 7% the previous day, while SK Hynix gained 2.4%.<\/p>

Taiwan’s Taiex edged down 0.2%.<\/p>

Hong Kong’s Hang Seng rose 2.4% to 24,057.24, and the Shanghai Composite index added 0.5% to reach 4,011.05. While Chinese markets have largely missed out on the broader global AI stock boom, investors appear to be turning their attention to China’s domestic push to develop its own artificial intelligence capabilities.<\/p>

Technology stocks led the rally in China, with Tencent Holdings climbing 3.1%, e-commerce and financial giant Alibaba Group Holding surging 8.1%, and Baidu advancing 4.7%.<\/p>

Elsewhere across Asia, Australia’s S&P\/ASX 200 fell 0.7% to 8,738.90, and India’s Sensex also declined 0.7%.<\/p>

On Tuesday, the volatile ride for AI-related stocks turned downward again, pulling U.S. markets lower. The S&P 500 dropped 0.4% to 7,503.85, even though most individual stocks within the index finished higher.<\/p>

The Nasdaq composite fell 1.2% to 25,818.69, weighed down by losses in artificial intelligence stocks. The Dow Jones Industrial Average declined 0.2% from its record high, closing at 52,925.15.<\/p>

Investors continue to grapple with concerns that AI stock valuations have climbed too fast and that massive spending on computer chips and data centers may not generate enough returns to justify the investment.<\/p>

Among individual stocks, Advanced Micro Devices dropped 6.5%, Intel fell 9.7%, and Micron Technology lost 4.7%.<\/p>

SpaceX, which operates the xAI business, declined 6.8% on its first day of trading following its inclusion in the Nasdaq 100 index. Rivian Automotive plunged 18.1% after the electric vehicle maker announced plans to sell 75 million new shares of stock, a move that reduces the ownership percentage of existing shareholders.<\/p>

In currency markets early Wednesday, the U.S. dollar rose to 162.38 Japanese yen from 162.11 yen. The euro held steady at $1.1414.<\/p>","protected":false},"excerpt":{"rendered":"

Oil prices surged more than 2% on Wednesday after the United States launched military strikes against Iran following reports that Tehran attacked three ships in the Strait of Hormuz. Asian stock markets were mixed in response, with gains in Greater China but losses in Japan, South Korea, and Australia. On Wall Street, AI-related stocks continued to drag major indexes lower.<\/p>\n","protected":false},"author":4,"featured_media":92555,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[834],"tags":[],"class_list":["post-92556","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/tvdelmarva.com\/wp\/wp-content\/uploads\/2026\/07\/news-1783488697294.jpg?fit=1000%2C666&ssl=1","jetpack_shortlink":"https:\/\/wp.me\/pbtNqq-o4Q","jetpack-related-posts":[{"id":38697,"url":"https:\/\/tvdelmarva.com\/wp\/asian-markets-rise-as-oil-prices-drop-despite-iranian-military-strikes\/","url_meta":{"origin":92556,"position":0},"title":"Asian Markets Rise as Oil Prices Drop Despite Iranian Military Strikes","author":"Admin","date":"March 18, 2026","format":false,"excerpt":"Stock markets across Asia posted gains Wednesday while crude oil prices declined, even as Iran launched multiple attacks against regional neighbors. Markets appeared to absorb the latest Middle East tensions without major disruption, with Japan and South Korea seeing particularly strong performance.","rel":"","context":"In "Business"","block_context":{"text":"Business","link":"https:\/\/tvdelmarva.com\/wp\/category\/business\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/tvdelmarva.com\/wp\/wp-content\/uploads\/2026\/03\/news-1773812210141.jpg?fit=1000%2C666&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/tvdelmarva.com\/wp\/wp-content\/uploads\/2026\/03\/news-1773812210141.jpg?fit=1000%2C666&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/tvdelmarva.com\/wp\/wp-content\/uploads\/2026\/03\/news-1773812210141.jpg?fit=1000%2C666&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/tvdelmarva.com\/wp\/wp-content\/uploads\/2026\/03\/news-1773812210141.jpg?fit=1000%2C666&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":68671,"url":"https:\/\/tvdelmarva.com\/wp\/asian-markets-fluctuate-as-iran-conflict-continues-to-impact-oil-prices\/","url_meta":{"origin":92556,"position":1},"title":"Asian Markets Fluctuate as Iran Conflict Continues to Impact Oil Prices","author":"Admin","date":"May 19, 2026","format":false,"excerpt":"Stock markets across Asia showed mixed results Tuesday amid ongoing concerns about the Iran war's effect on global oil supplies. South Korea's main index dropped significantly while crude oil prices continued their volatile swings based on developments in the conflict.","rel":"","context":"In "Business"","block_context":{"text":"Business","link":"https:\/\/tvdelmarva.com\/wp\/category\/business\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/tvdelmarva.com\/wp\/wp-content\/uploads\/2026\/05\/news-1779166268509.jpg?fit=1000%2C666&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/tvdelmarva.com\/wp\/wp-content\/uploads\/2026\/05\/news-1779166268509.jpg?fit=1000%2C666&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/tvdelmarva.com\/wp\/wp-content\/uploads\/2026\/05\/news-1779166268509.jpg?fit=1000%2C666&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/tvdelmarva.com\/wp\/wp-content\/uploads\/2026\/05\/news-1779166268509.jpg?fit=1000%2C666&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":32239,"url":"https:\/\/tvdelmarva.com\/wp\/asian-markets-show-mixed-results-as-oil-prices-drop-amid-middle-east-tensions\/","url_meta":{"origin":92556,"position":2},"title":"Asian Markets Show Mixed Results as Oil Prices Drop Amid Middle East Tensions","author":"Admin","date":"March 6, 2026","format":false,"excerpt":"Asian stock markets displayed varied performance Friday after Wall Street declined, while oil prices retreated more than $1 from recent highs. The ongoing conflict between Israel and Iran continues to create volatility in global financial markets, with crude prices falling despite supply concerns.","rel":"","context":"In "Business"","block_context":{"text":"Business","link":"https:\/\/tvdelmarva.com\/wp\/category\/business\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/tvdelmarva.com\/wp\/wp-content\/uploads\/2026\/03\/news-1772778894298.jpg?fit=1000%2C666&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/tvdelmarva.com\/wp\/wp-content\/uploads\/2026\/03\/news-1772778894298.jpg?fit=1000%2C666&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/tvdelmarva.com\/wp\/wp-content\/uploads\/2026\/03\/news-1772778894298.jpg?fit=1000%2C666&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/tvdelmarva.com\/wp\/wp-content\/uploads\/2026\/03\/news-1772778894298.jpg?fit=1000%2C666&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":39834,"url":"https:\/\/tvdelmarva.com\/wp\/crude-oil-drops-as-iran-conflict-concerns-send-mixed-signals-to-global-markets\/","url_meta":{"origin":92556,"position":3},"title":"Crude Oil Drops as Iran Conflict Concerns Send Mixed Signals to Global Markets","author":"Admin","date":"March 20, 2026","format":false,"excerpt":"Energy prices retreated Friday after a volatile week driven by escalating Middle East tensions. 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