Oil Prices Rise as Middle East Conflict Escalates

Oil prices have continued to rise amid ongoing violence in the Middle East. The conflict has been going on for over a month, and despite some periods of relative calm, it remains unclear when a resolution might be reached.

Asian shares were mixed as investors struggle to assess the impact of the escalating tensions on global markets. In Hong Kong, shares in Shein, an online fast-fashion retailer that began trading on Tuesday, fell by 5% after initially dropping as much as 10%.