Public Markets 3h Briefing

Oil & Commodities

Fuel prices jumped bloomberg.com on Monday as the widening war in the Middle East threatened exports from Persian Gulf refineries, with diesel surging more than crude oil. Oil prices bloomberg.com are not expected to see a significant jump as an Iranian conflict may resolve within four weeks, according to FGE Nexant ECA Chairman Emeritus Fereidun Fesharaki. Mukesh Sahdev bloomberg.com, CEO of XAnalysts, sees no risk to the Strait of Hormuz and believes oil prices won't exceed $100 per barrel.

Asian Markets

Asia stocks slide investing.com as US-Iran strikes batter risk appetite across the region. The Hang Seng Tech Index bloomberg.com has slipped beneath a crucial support line, suggesting more selloffs ahead. Asia FX investing.com fell as Middle East strikes spurred oil surge, with the South Korean won leading losses. BOJ deputy governor Himino investing.com indicated more interest rate hikes are likely in Japan as policymakers respond to inflationary pressures.

Geopolitical Impact

Indian stocks bloomberg.com erased US trade deal gains on Middle East conflict concerns, while Indian refiners bloomberg.com eye Russian oil again as Iranian supply hits a crisis. Indonesia's central bank bloomberg.com is intervening in foreign-exchange markets as the US-Israeli war sapped sentiment for the rupiah. Soybean oil bloomberg.com jumped to a two-year high, tracking crude prices higher after strikes by the US and Israel on Iran.