Germany Iran US Oil Prices
Gas prizes are displayed at a gas station with the European Central Bank in background in Frankfurt, Germany, Monday, March 2, 2026.
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Global shares are mostly lower and oil prices have surged as investors eye threats to energy supplies from the Iran war. Resource-poor countries in Asia like Japan is likely to be hit without access to the Strait of Hormuz because of the war. U.S. futures fell more than 1%. European benchmarks gave up more than 2% and South Korea's Kospi plunged 7.2%. Energy and defense related shares fell back in Japan and China. On Monday, the S&P 500 fell as much as 1.2% but finished with a gain of less than 0.1%. The Dow Jones Industrial Average dipped 0.1% and the Nasdaq composite rose 0.4%. Both also recovered from steep early losses.
