Early Asian trade saw a decline in global oil prices as worries about the war’s escalationsubsided due to expectations of more peace negotiations between the US and Iran.
While US-traded oil fell by 2.2% to approximately 96.90 US dollars per barrel, the price of theglobal benchmark Brent crude fell by 2.2% to 97.20 US dollars per barrel.
Following US President Donald Trump’s directive to halt Iranian supplies following the failureof discussions over the weekend, oil prices surged beyond $100 per barrel Wednesday.Asian stock markets saw a slight increase as well. The Kospi exchange in South Koreaincreased by over 3%, while the Nikkei 225 index in Japan increased by 2.4%.
