Oil prices rise and stock markets tumble as world wakes to new week in war
Shortly after the markets opened in Asia, the price of West Texas Intermediate (WTI), the US benchmark crude, for May delivery was up 1.8 percent to just over $100 per barrel, before retreating slightly.
The price of North Sea Brent crude for May delivery rose at a similar rate, to $113.44 per barrel before sliding to around $111 some 45 minutes into trading.
On February 27, the day before the US-Israeli attacks began on Iran, they stood at $67.02 and $72.48 per barrel, respectively.
In Asia, South Korea’s benchmark Kospi index and Japan’s Nikkei sharply dropped in early trade.
The Kospi was down 4.69 percent at 5,509.88 points. The Nikkei 225 was down 3.54 percent at 51,483.91 points.
