Oil surges past $100 as U.S. blockade on Iran ports escalates tensions. Failed negotiations between Washington and Tehran over the weekend have reignited fears of prolonged Middle East conflict, triggering significant market selloff across Asia-Pacific. West Texas Intermediate crude jumped 7.07% to $103.40 per barrel while Brent crude gained 6.79% to $101.67. The geopolitical escalation sent ripples through regional markets Monday, with Japan's Nikkei declining 0.74%, South Korea's Kospi falling 0.86%, and India's Nifty 50 dropping 1.04%. U.S. futures also reflected investor concern, with Dow Jones futures down 1.1% and Nasdaq 100 futures sliding 1.2%. President Trump has reportedly considered resuming airstrikes on Iran, adding to market uncertainty. Higher oil prices threaten to strain global economies already facing inflationary pressures.
