Trump Administration Seeks Court Pause to Reinstate 10% Global Tariffs 
South Korea Central Bank Signals Inflation Concerns as Oil Prices Surge 
Oil Prices Rise as Dollar Gains Ahead of Key U.S. Inflation Data 
US Stock Futures Hold Steady Ahead of CPI Data and Iran Conflict Concerns 
Trump-Iran Tensions Keep Oil Prices Elevated Amid Hormuz Supply Fears 
Dollar Gains on Safe-Haven Demand as Iran Tensions and Inflation Data Loom 
China Inflation Jumps as Iran Conflict Drives Energy Costs Higher 
KOSPI Hits Record High as AI Chip Demand Boosts Samsung and SK Hynix 
Goldman Sachs Delays Fed Rate Cut Forecast to 2026 Amid Rising Inflation Concerns 
Norway Core Inflation Hits 3.2% in April, Fueling Interest Rate Hike Expectations 
US Inflation Expected to Rise Again in April as Fed Signals Higher Interest Rates 
Asian Stocks Slip as Korea’s KOSPI Tumbles Amid Iran Conflict and Chip Sector Profit-Taking 
Trump Says Iran Ceasefire Near Collapse as Oil Prices Surge 
US Auto Industry Urges Trump to Block Chinese EV Market Access 
Asian Stocks Rise Despite Middle East Tensions as Chipmakers Boost Markets 
Asian Currencies Slide as Iran Tensions Boost Dollar and Oil Prices 
Global oil prices swung sharply on Monday as markets grappled with mounting fears over supply disruptions tied to the escalating U.S.-Israel military conflict with Iran. After surging nearly 3% earlier in the session, crude benchmarks reversed course following statements from U.S. President Donald Trump urging international cooperation to keep the Strait of Hormuz open for global trade.
Brent crude, the global oil benchmark, edged up 0.2% to $103.41 per barrel, while U.S. West Texas Intermediate fell 0.5% to $96.40 per barrel as of early Monday trading. The volatile price action reflects deepening uncertainty surrounding one of the world's most critical energy chokepoints.
Trump announced over the weekend that the White House had engaged seven countries, including China, in discussions about jointly securing the Strait of Hormuz — a waterway responsible for roughly one-fifth of global oil supply. Despite Trump characterizing the mission as manageable given Iran's reduced military capacity, both Japan and Australia declined to deploy warships to the region. Major container shipping firms have also pulled back from the strait, citing crew safety risks and insurability concerns.
Tensions escalated further after U.S. forces struck Kharg Island, the hub through which approximately 90% of Iran's oil exports flow. Trump confirmed the strike targeted military assets and warned that oil infrastructure could be next. Iran responded swiftly with missile and drone attacks across the Persian Gulf, hitting population centers and U.S. military installations. Tehran maintained that the strait would remain closed until all U.S. and Israeli strikes on Iranian soil cease.
Adding to the pressure on global energy markets, the United Arab Emirates reported a second consecutive drone strike on its oil-industry zone in Fujairah. In response to potential supply shocks, the International Energy Agency announced it would release approximately 412 million barrels from emergency reserves to help stabilize the market.
