Oil Spikes Past $112 as U.S.-Iran Tensions and Hormuz Attacks Rattle Asian Markets

Name: Oil Spikes Past $112 as U.S.-Iran Tensions and Hormuz Attacks Rattle Asian Markets
Uploaded: 2026-10-25T08:06:39.28944+00:00
Description: Brent crude briefly topped $112 a barrel on Oct. 22, 2026, before surging above $116 later in the week as escalating U.S.-Iran tensions and reported attacks near the Strait of Hormuz spooked markets. Asian equities fell sharply, with South Korea's Kospi down 4.0% and Hong Kong's Hang Seng off 3.2% in one session.

Brent crude briefly topped $112 a barrel on Oct. 22, 2026, before surging above $116 later in the week as escalating U.S.-Iran tensions and reported attacks near the Strait of Hormuz spooked markets. Asian equities fell sharply, with South Korea's Kospi down 4.0% and Hong Kong's Hang Seng off 3.2% in one session.

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