Commodities
Oil Prices Soar as Trump Rejects Iran's Compensation Demand
Oil prices surged more than 2% on Tuesday after U.S. President Donald Trump dismissed Iran's demand for compensation in exchange for reopening the Strait of Hormuz.
The Brent crude oil price jumped to $89.80 a barrel, while U.S. benchmark crude picked up 2.6% to $84.28 a barrel.
Shares in Asia were mixed, with South Korea's Kospi gaining 0.7% and the Hang Seng losing 1.1%. The S&P/ASX 200 in Australia edged 0.2% higher after the Reserve Bank of Australia kept its benchmark interest rate unchanged at 4.35%.
The U.S. dollar rose to 159.35 Japanese yen from 159.30 yen, while the euro fell to $1.1539 from $1.1544.