US-Iran Clashes in Persian Gulf Trigger Oil Surge and Asian Market Slumps

Ongoing military exchanges between the United States and Iran in the Persian Gulf have caused significant volatility in global financial markets. Oil prices surged over 4%, with Brent crude reaching $79.18 per barrel during early London trading. Meanwhile, gold prices fell by 1.5% to $4,060 per ounce. Asian stock markets experienced sharp declines, including a 2.1% drop in Japan's Nikkei, a 0.1% fall in Hong Kong's Hang Seng, a 1.78% plunge in China's CSI 300, and nearly a 10% collapse in South Korea's KOSPI index.

Iran claims to have closed the strategic Strait of Hormuz, a vital shipping route, but US President Donald Trump insists it remains open. US sources reported that 20 vessels passed through the strait in the past 24 hours. Overnight, US forces launched new strikes against Iranian targets, while Iran's Revolutionary Guards fired ballistic missiles, cruise missiles, and drones at US bases in neighboring countries. Tehran stated these attacks have "thwarted all diplomatic efforts of recent months."

President Trump declared last Wednesday that the ceasefire was over, while mediators from Qatar and Pakistan are attempting to revive negotiations between the two sides. The escalating conflict is causing immediate economic repercussions worldwide, reflecting heightened geopolitical tensions in the region.