economy
March 12, 2026
Asia-Pacific markets fall as Iran war continues to fuel oil volatility
Asia-Pacific markets fell Thursday as investors grappled with volatile oil prices and escalating tensions in the Middle East.
TL;DR
- Asia-Pacific markets fell due to volatile oil prices and Middle East tensions.
- The International Energy Agency announced its largest-ever emergency release of 400 million barrels of oil.
- The U.S. will release 172 million barrels from its Strategic Petroleum Reserve.
- Despite the releases, oil futures (WTI and Brent) increased significantly.
- Major indices in Australia, Japan, South Korea, and Hong Kong experienced declines.
- U.S. markets also closed lower overnight, with the Dow Jones Industrial Average falling.
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