Asia-Pacific Stocks Fall as Brent Nears $98 on Iran-U.S. Tensions
Updated
Updated · CNBC · Jun 4
Asia-Pacific Stocks Fall as Brent Nears $98 on Iran-U.S. Tensions
3 articles · Updated · CNBC · Jun 4
Summary
South Korea’s Kospi dropped 2% and Japan’s Nikkei 225 fell 1.4% on Thursday, with Asia-Pacific markets opening lower after Wall Street sold off.
Brent settled at $97.81 a barrel and WTI at $96.02 after Iran struck Kuwait International Airport and U.S. forces said they intercepted Iranian missiles and drones before hitting Qeshm Island.
Netanyahu told CNBC that Israel and the U.S. are prepared to strike Iran again if needed, underscoring fears of a wider conflict and fresh inflation pressure from energy prices.
U.S. risk sentiment had already weakened overnight: the Dow fell 620.72 points, the S&P 500 lost 0.74%, and Nasdaq futures slid another 0.6% ahead of Thursday trading.
With the Strait of Hormuz closed, what is the global economy's plan B for avoiding a catastrophic energy crisis?
As the Iran war's costs skyrocket, what achievable strategic victory is the U.S. actually pursuing in the region?
Is Iran's new leadership using war to consolidate power, or is the conflict exposing its profound internal weakness?
Oil Prices Spike to $95 as U.S.-Iran Standoff Disrupts Strait of Hormuz and Global Markets
Overview
Amid escalating U.S.-Iran tensions and stalled peace talks in June 2026, global markets are facing heightened geopolitical uncertainty. President Trump's dismissal of negotiation concerns and Iran's wavering commitment have fueled fears of disruptions in the Strait of Hormuz, causing oil prices to surge. This instability has rippled through energy markets and global equities, with technology and energy sectors showing resilience while others falter. The situation highlights how political events can quickly impact market sentiment and commodity prices, underscoring the interconnectedness of diplomacy, energy security, and financial stability in today's volatile environment.