Tokyo, March 2, 2026 (AFP) - Oil price surges, stocks drop on Iran conflict

NAMPA / AFP

2026-03-02

Oil prices soared and stocks fell in Asia on Monday on the back of turmoil in the Middle East after US and Israeli strikes on Iran, with the vital Strait of Hormuz effectively shut and several ships attacked. In early trade in Asia, Brent Crude rocketed to just over $80 per barrel compared to the closing price of $72.87 on Friday, before easing slightly to below $79. On stock markets, Japan's Nikkei was down 2.2 percent in early trade and Sydney......

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