Asian markets tumble amid escalating Middle East tensions and energy crisis. Share markets across Australia, New Zealand, and Japan declined sharply Monday as geopolitical risks intensify. Iran threatened strikes on Gulf energy infrastructure while the U.S. threatened Iran's electricity grid, raising concerns about prolonged conflict and supply disruptions. Oil prices remain volatile, with Brent crude up 55% this month despite Monday's modest decline. The conflict threatens to push crude toward $150 per barrel, analysts warn. Energy infrastructure destruction will delay supply normalization. Jet fuel surged 175% this year to multi-decade highs, while liquefied natural gas climbed 130%. Rising shipping costs and fertilizer prices threaten global inflation. Markets have abandoned hopes for Federal Reserve rate cuts, with futures now pricing potential rate hikes instead.
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