Asian markets slip as oil prices surge amid fears of potential Iranian retaliation

From Financial Modeling Prep: 2025-06-23 07:15:00

Asian equities dipped as oil prices hit five-month highs post-U.S. airstrikes on Iranian nuclear sites. Markets stayed cautious over potential Iranian retaliation, with Brent crude at $78.07 and WTI at $74.88. President Trump’s claim of crippling Iran’s nuclear infrastructure raised concerns about the Strait of Hormuz’s safety for oil transportation.

Major Asian indexes slipped slightly amid geopolitical tensions, with S&P 500 and Nasdaq futures down by 0.1% and 0.2% during Asian trading hours. The dollar saw limited safe-haven buying, indicating cautious market sentiment without full panic mode. Oil prices surged, reflecting ongoing concerns over potential supply disruptions.

Analysts warn of significant oil price spikes if the strategic Strait of Hormuz faces disruptions. JPMorgan notes past regime changes led to 30% oil price spikes, while CBA predicts Brent oil could surpass $100 with selective shipping issues. Goldman Sachs warns of prices hitting $110/barrel if the strait closes for a month.

For real-time updates on oil prices and global commodity movements, utilize the Commodities API. Stay informed about Brent, WTI, and natural gas prices, updated daily to provide valuable insights into market trends.



Read more at Financial Modeling Prep:: Asian Markets Slip, Oil Hovers Near Highs as Iran …