Oil topped $100/bbl on Wednesday for the first time since June after the US
struck five Iranian crude tankers; Iran retaliate with missile strikes on US
forces in Jordan and attacks on vessels. Japan, South Korea, Australia, Taiwan
and Hong Kong stock indexes fell modestly as investors priced higher
energy-driven inflation and elevated geopolitical risk. ATFX Global chief market
strategist Nick Twidale said traders who had delayed selling in hopes of a
Middle East peace deal may "trigger sell-offs as the reality of a prolonged
conflict becomes apparent." The crisis shows no sign of abating as US and
Iranian strikes occur near the Strait of Hormuz while Saudi Arabia remains
engaged with Yemeni militants.
