Oil Soars to Highest Since May Amid US-Iran Tensions

Asian shares declined on Friday following losses on Wall Street, while oil prices continued to rise. Brent crude traded above $108 a barrel, its highest since May.

The decline in Asian markets came as Japan's Nikkei 225 dropped 2.8% and South Korea's Kospi lost 2.3%. Shares of Samsung Electronics slid 3.9%, while memory chipmaker SK Hynix declined 3.6%

Hong Kong's Hang Seng dipped 0.8%, but Chinese AI chipmaker Enflame surged around 180% in its trading debut.

Oil prices continued to gain as tensions between the U.S. and Iran intensified, with benchmark U.S. crude up 0.7% at $103.22 per barrel.