Asian Markets Mixed as Brent Crude Approaches $100 a Barrel

Asian markets experienced mixed trading on Wednesday as investors watched for potential developments in interest rates and the ongoing conflict in Iran, which has pushed oil prices higher.

Brent crude approached $100 a barrel, surging 1.6% to $99.48, while U.S. benchmark crude rose 1.4% to $94.35 per barrel.

In Japan, the Nikkei 225 lost 0.2% to 65,142.78, whereas South Korea's Kospi gained 1.4% to 7,051.64.

Economists expect a closely watched report on U.S. inflation due out on Friday will show a slight easing of inflation rates from July's 3.4% to 3.3%, which remains above the Federal Reserve's target of 2%.