"Oil prices rose more than $5 as President Donald Trump said the United States would continue attacks on Iran without committing to a specific timeline to end the war, fanning investor fears about sustained disruptions to supply."
"Iran's closure of the Strait of Hormuz in retaliation for the US-Israeli attacks has disrupted about one-fifth of global oil and liquefied natural gas (LNG) supplies, causing the world's biggest energy crisis in decades."
"Asian emerging market stocks fell overall with a main regional index, the MSCI gauge of EM Asia equities, dropping 2.3 percent, while regional currencies weakened slightly by 0.2 percent."
"South Korean President Lee Jae Myung urged parliament on Thursday to promptly pass a 26.2 trillion won ($17.3bn) supplementary budget to shore up the economy during the worst energy security threat caused by the Middle East crisis."
Asian stocks experienced a significant decline after President Trump's speech, which indicated ongoing military actions in the Middle East. Oil prices surged over $5, with Brent crude futures rising 6.3 percent to $107.49 per barrel. Southeast Asian countries, heavily reliant on oil imports, faced increased vulnerability due to these price hikes. The MSCI gauge of emerging market Asia equities dropped 2.3 percent, while South Korea's KOSPI fell 4.2 percent. South Korean President Lee Jae Myung called for a supplementary budget to address the economic impact of the energy crisis.
Read at www.aljazeera.com
Unable to calculate read time
Collection
[
|
...
]