South Korea Financial Markets

A currency trader talks on the phone at the foreign exchange dealing room of the Hana Bank headquarters in Seoul, South Korea, Friday, April 3, 2026.

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Oil prices surge while Asian share prices rise moderately

Oil prices surge while Asian share prices rise moderately

Oil prices are surging on worries of a prolonged Iran war while most Asian financial markets are rising moderately during cautious trading. Benchmark U.S. crude rose 11.4% to $111.54 a barrel. The price of Brent crude, the international standard, jumped 7.8% to $109.03 per barrel. Stocks rose in Japan and South Korea, while declining in Shanghai. Markets were closed for the Good Friday holiday in other Asian markets, as well as France, Germany and Britain and Wall Street. Crude oil prices have been driving sharp swings for stocks globally. Shipping traffic has been severely curtailed in the Strait of Hormuz.