US Strike on Iran Escalates Tensions, Boosts Oil Prices

Asian shares experienced mixed trading on Monday, while US futures declined in response to expectations surrounding a recent military action by the United States. On August 30, the US struck Iranian rocket launchers located on the Strait of Hormuz, marking its first military move against Iran in weeks.

The strike prompted an increase in oil prices, as tensions between the two nations escalated. The Strait of Hormuz is a critical waterway for global oil trade, with approximately 21% of the world's oil supply passing through it each day.