Tensions in the Middle East are casting a shadow over global markets, with oil prices hovering near $110 per barrel as investors anxiously await the outcome of US President Donald Trump’s Tuesday deadline for Iran to restore access to the Strait of Hormuz, or risk facing retaliatory strikes on critical infrastructure, including power plants and bridges.
As the clock ticks down, investors and traders are growing increasingly uneasy, with Brent crude futures edging up 0.4 percent to $110.19 a barrel and US West Texas Intermediate crude futures climbing 0.8 percent to $113.31.
Meanwhile, Japan’s Nikkei 225 index saw its early gains evaporate, trading 0.2 percent lower, while South Korea’s Kosdaq was down 0.75 percent by 02:20 GMT on Tuesday, and Singapore’s Straits Times Index had slipped 0.22 percent by 02:30 GMT.
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