Oil prices climbed following reports of new US strikes against Iran, injecting geopolitical risk into energy markets. West Texas Intermediate crude rose 0.15% and Brent crude gained 0.09% on the Hyperdash trading platform as traders reacted to the news.

This development is expected to weigh on Asian stock markets, which are poised for a second day of declines. A selloff in chipmakers has already sent ripples across global markets, and escalating tensions in the Middle East could further dampen investor sentiment and lead to asset repricing.

The increased volatility in oil prices and potential downturn in equities signal a shift in market expectations. Investors and business leaders will need to monitor the geopolitical situation closely, as further escalation could impact global supply chains and corporate earnings, particularly in energy-dependent sectors.