Asian Markets Mixed as Oil Prices Surge Near $100

Asian markets were mixed in cautious trading on Wednesday as investors watched for potential interest rate moves and the ongoing war in Iran pushed oil prices higher.

The price of Brent crude approached $100 a barrel, reaching $99.30 after surging 1.4% overnight.

Japan's benchmark Nikkei 225 remained nearly unchanged at 65,249.95, while South Korea's Kospi gained 1.2% to 7,041.10.

Economists expect the upcoming US inflation report on Friday to show a slight decrease in inflation rates to 3.3%, still above the Federal Reserve's target of 2%.