economy
Asia-Pacific Markets Rise Amid Worries Over Strait of Hormuz Staying Largely Closed
The West Texas Intermediate gained 0.72% to $98.57 per barrel as of 2:37 a.m. ET. Brent crude rose by 0.67% to $96.56 per barrel.
TL;DR
- Asia-Pacific markets mostly rose on Friday, with the exception of Australia's S&P/ASX 200.
- Oil prices remained volatile due to the ongoing conflict in the Middle East and restricted traffic through the Strait of Hormuz, despite a U.S.-Iran ceasefire.
- Japan plans to release 20 days' worth of oil reserves from May onwards.
- China's factory-gate prices rose for the first time in over three years.
- The Nikkei 225, CSI 300, and Kospi all advanced, while Wall Street indexes also closed higher.