Geopolitical tensions reshape global markets. U.S. and Israeli strikes on Iran triggered sharp market movements across Asia on Monday. Oil surged dramatically, with U.S. crude jumping 8.5% to $72.81 per barrel and Brent climbing over 9% to $79.53 as investors priced in Middle East conflict risks. The Strait of Hormuz, a critical energy chokepoint, saw tanker traffic slow to near standstill due to war-risk insurance premiums. JPMorgan warned that extended disruptions beyond three weeks could force Gulf producers to shut output, potentially pushing Brent to $100-$120 range. Energy stocks outperformed, with Australian producers Woodside Energy and Santos jumping over 6%, while Japanese energy firms Inpex and Japan Petroleum surged 6% and 12% respectively. Conversely, airline stocks faced significant losses.
