China crude-related futures main contracts rose in a short-term move: SC crude main contract +2.21% to 481.5 yuan/barrel; low-sulfur fuel oil (LU) +1.92% to 4,195 yuan/ton; fuel oil +2.51% to 3,312 yuan/ton; asphalt +3.13% to 3,960 yuan/ton.

South Korea's KOSPI extended losses to about 2%, with SK Hynix down nearly 7% and Samsung Electronics off just over 1%.

Barclays analysts said rising oil prices — after US strikes on Iranian targets and Iranian attacks on ships transiting the Strait of Hormuz at the weekend — could prompt Bank of England MPC members to signal a bias toward rate hikes in coming months. They warned escalating Middle East tensions and this week’s oil gains raise the risk of stronger inflationary pressure, a focus for MPC members. LSEG data shows markets have fully priced a 25bp hike in 2026 and assign a 28% probability of an additional 25bp by year-end.