Oil Spikes and Asia Dips: Market Reactions to Middle East Tensions

Oil prices surged as tensions escalated between Israel and Iran, impacting global markets. Brent crude increased by $3.82, while US crude gained $3.93 per barrel after Israel struck Iranian sites, raising concerns of a larger conflict.

Asian shares responded with declines, as Tokyo's Nikkei 225 fell 0.9% and Hong Kong's Hang Seng dropped by the same margin. Despite fears, The Economist Intelligence suggests Asian markets might recover swiftly, given stronger ties with Saudi Arabia and the UAE.

In the US, inflation data provided a mixed bag for investors. While the S&P 500 and other indices saw modest gains, questions remain about the Fed's future moves amid tariff-induced uncertainties. Aiding sentiment, Oracle's profitability rose, counterbalancing Boeing's losses after an Air India crash.

(With inputs from agencies.)