Fire and smoke rise into the sky after an Israeli attack on the Shahran oil depot on June 15, 2025 in Tehran, Iran.
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Asia-Pacific markets plunged Monday, after the United States’ attack on three nuclear sites in Iran raised oil prices and investors’ fears of an escalation in the Middle East conflict.
Oil prices have spiked in recent weeks following the increased tensions in the Middle East.
Brent Crude was trading at $79.06 per barrel after surging 2.62%, as of 8.10 a.m. Singapore time, while the West Texas Intermediate crude added 2.75% to $75.89.
Japan’s benchmark Nikkei 225 fell 0.58%, while the broader Topix index declined 0.48%.
In South Korea, the Kospi index lost 1.16%, while the small-cap Kosdaq plunged 1.99%.
Over in Australia, the S&P/ASX 200 started the day 0.49% lower.
Futures for Hong Kong’s Hang Seng index stood at 23,396, pointing to a weaker open compared to the HSI’s last close of 23,530.48.
— CNBC’s Lisa Kailan Han, Sean Conlon, Brian Evans contributed to this report.
