Oil prices are trading higher early Friday after falling yesterday, following a fresh clash between the US and Iran in the Strait of Hormuz overnight.
Brent crude, the international standard, climbs 1.1 percent to $101.13 per barrel. Brent crude was roughly $70 a barrel before the Iran war began in late February.
Benchmark US crude rose 0.7% to $95.47 a barrel.
Meanwhile, Asian stocks have retreated, with Tokyo’s Nikkei 225 falling 1.1% to 62,174.12 after closing the day before at a record high of 62,833.84. SoftBank Group, one of Japan’s largest stocks, has lost more than 5%.
Elsewhere in Asia, South Korea’s Kospi falls 1.1% to 7,409.63. Hong Kong’s Hang Seng drops 1.3% to 26,289.50, and The Shanghai Composite index sheds 0.3% to 4,167.56.
Taiwan’s Taiex is 0.5% lower, and India’s Sensex declines 0.6%.
Australia’s S&P/ASX 200 loses 1.7% to 8,729.40.
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From the Liveblog of
Friday, May 8, 2026
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