Key Takeaway
Brent crude jumps nearly 5% and Asian markets drop, with chipmakers including SK Hynix among hardest hitBusiness live – latest updatesOil prices jumped and stocks fell after the US launched a fresh wave of attacks against Iran amid an escalating standoff over the strait or Hormuz. Brent crude, the international benchmark for oil prices, rose 4.
Published July 13, 2026 · Category: News
Overview
Brent crude jumps nearly 5% and Asian markets drop, with chipmakers including SK Hynix among hardest hit
Oil prices jumped and stocks fell after the US launched a fresh wave of attacks against Iran amid an escalating standoff over the strait or Hormuz.
Details
Brent crude, the international benchmark for oil prices, rose 4.7% to $79.59 a barrel. Asian stock markets dropped sharply, with South Korea’s Kospi down 8% and Japan’s Nikkei 225 and China’s Shanghai Composite 2% lower.
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Source
Originally published at www.theguardian.com.
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Frequently Asked Questions
What is "Oil prices leap and stocks fall amid US-Iran strikes over Hormuz" about?+
Brent crude jumps nearly 5% and Asian markets drop, with chipmakers including SK Hynix among hardest hitBusiness live – latest updatesOil prices jumped and stocks fell after the US launched a fresh wave of attacks against Iran amid an escalating standoff over the strait or Hormuz.Brent crude, the international benchmark for oil prices, rose 4.7% to $79.59 a barrel. Asian stock markets dropped sharply, with South Korea’s Kospi down 8% and Japan’s Nikkei 225 and China’s Shanghai Composite 2% lower
Who reported this story?+
This story was reported by The Guardian World.