Asian Energy Stocks Surge Amid Middle East Tensions

Asian energy stocks surged on Friday as tensions in the Middle East and concerns over fuel supplies propelled oil prices higher.

Oil held above $102 a barrel, up from its previous session's sharp rise, while Brent crude hovered around $93.

The gains came as markets assessed a potential increase in US military forces in the Gulf, including the possible deployment of another aircraft carrier, and China's decision to halt most refined-fuel exports in October added to supply concerns.

South Korea's WTI rose 8.5%, while Japan's S&P/TOPIX 150 advanced 2.3% and its Nikkei 225 index increased 1%.

Australia's energy stocks also gained, with Santos Limited up 1% and Oil Search rising 2%.