12:10 PM in Tokyo, Jun 10
Oil rebounds to about $92 and Asian stocks fall after the U.S.-Iran exchange of strikes
ReportedShipping, energy & marketsTokyo, Japan, and Seoul, South Korea
Brent crude rose 0.9 percent to $92.29 a barrel and U.S. WTI 0.8 percent to $88.97 in early Asian trade, moving off a seven-week low as U.S. strikes on Iran and Iranian retaliation unsettled markets; Japan's Nikkei fell 0.9 percent and South Korea's KOSPI 2 percent, and both extended their losses later in the session.
Why it matters A Saxo strategist said oil holding near $90 showed markets were not pricing a sustained supply disruption, leaving room for a sharper move if energy sites or shipping were hit.
Sources: Guardian live, ABC News markets live, Al Jazeera live blog, The Guardian live blog, The Guardian live blog (2)