Asian equity markets continued their bull run on Monday, with the ongoing artificial intelligence surge sustaining investor demand and outweighing concerns sparked by renewed unrest in the Gulf, News.Az reports, citing Reuters.
The geopolitical developments raised doubts about hopes for a reopening of the Strait of Hormuz and contributed to higher oil prices.
At the same time, discussions between negotiators from Washington and Tehran were reportedly continuing in an effort to reach an agreement. U.S. President Donald Trump had remained quiet on the status of the talks until he posted a message telling everyone to “just sit back and relax”.
On Saturday, U.S. Defense Secretary Pete Hegseth stated that the United States was prepared to resume strikes on Iran if a deal could not be finalized. Subsequently, reports emerged on Monday indicating that U.S. forces had carried out strikes on Iranian targets over the weekend, with Tehran responding in kind, while Kuwaiti air defenses were said to be intercepting incoming missile and drone attacks.
Regional tensions were further exacerbated by an Israeli advance deeper into Lebanon amid ongoing operations against the Iranian-backed Hezbollah militant group.
The latest exchange of strikes between the United States and Iran pushed Brent crude up by 2.1% to $93.02 per barrel, while U.S. crude rose 2.6% to $89.61.
On Saturday, Defense Secretary Pete Hegseth again emphasized that the United States stood ready to restart military action against Iran if negotiations failed to produce an agreement. Additionally, reports on Monday confirmed that U.S. forces had struck Iranian targets over the weekend, with Iran retaliating, while Kuwaiti defense systems were reportedly intercepting missiles and drones.
Tensions in the region were further intensified by Israel’s continued push deeper into Lebanon in its confrontation with the Iranian-supported Hezbollah militant group.
The renewed exchanges of attacks between the United States and Iran lifted Brent crude by 2.1% to $93.02 a barrel, while U.S. crude gained 2.6% to $89.61.
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