Commodities
Asian Energy Stocks Surge on Middle East Tensions
Asian energy stocks rose on Friday as oil prices surged due to escalating tensions in the Middle East and concerns over fuel supplies.
The price of Brent crude held above $102 a barrel, while U.S. West Texas Intermediate was around $93.
South Korea's energy sector led the gains, with the Kosdaq index jumping 8.5%, followed by a 10% surge in the KRX index.
Japan's energy stocks also rose, with the Nikkei 225 gaining 2.3% and the TOPIX advancing 1%.
Australian energy stocks gained as well, with Santos Limited rising 1% and Oil Search Limited increasing by 2%.