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world10h ago
Iran war: Oil prices surge above $100 and shares slide over Iran war
- Oil prices jumped above $100 a barrel as tensions in the Gulf heightened
- Iran appointed Mojtaba Khamenei as successor, signaling hardliners remain in charge
- Airstrikes targeted oil depots as part of weekend actions across Iran
- Markets in Asia-Pacific fell sharply on Monday amid the upheaval
- The Kospi stock index slid after hitting circuit breakers
- Analysts warned that an extended halt in Hormuz could push prices higher
- Oil futures rallied as concerns about Gulf energy supplies grew
- US President Trump framed price hikes as a small price to pay for security
- Energy secretary cited Israel as targeting Iran's energy infrastructure
- Analysts expect ongoing disruption to shipments through the Strait of Hormuz
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