Brent stays above $100, Asian stocks fall

Synopsis

Brent crude inched further above $100 a barrel and stocks fell in early Asian trade on Friday, after Iran vowed to attack oil resources in the Middle East and keep choking the Strait of Hormuz. The Strait of Hormuz, a crucial waterway for crude, remains effectively shut.

Tokyo, Mar 13, 2026 -Brent crude inched further above $100 a barrel and stocks fell in early Asian trade on Friday, after Iran vowed to attack oil resources in the Middle East and keep choking the Strait of Hormuz.

Having risen above $100 on Thursday, Brent was up 0.20 percent at $100.66 at around 0020 GMT, while West Texas Intermediate was flat at $95.75.

In Japan, the Nikkei was down 1.4 percent at 53,687.30 points while the Kospi in South Korea fell 2.2 percent to 5,462.97.

With Gulf states slashing production and oil tankers stuck in the Gulf, benchmark oil prices have risen 40 to 50 percent since the United States and Israel attacked Iran on February 28, threatening to curb growth and stoke inflation.

The Strait of Hormuz, a crucial waterway for crude, remains effectively shut.

Saudi forces intercepted dozens of drones on Friday and Israel came under attack from missiles launched by Tehran.

The International Energy Agency has warned that the Middle East war could lead to "the largest supply disruption" in the industry's history.

But US President Donald Trump wrote on social media that defeating Iran's "evil empire" was more important than crude prices.

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