Oil prices jump as fighting flares in the Middle East, while Asian shares are mixed

Oil prices jump as fighting flares in the Middle East, while Asian shares are mixed, shaping a cautious start for global markets. Brent crude rose more than 2.3% to $85.18 a barrel early Tuesday after gaining nearly 10% on Monday, while U.S. benchmark crude climbed 2.5% to $80.15. The article links higher prices to intensified fighting and growing uncertainty over supply stability, amid U.S. and Iran statements about control of the Strait of Hormuz. The report also says oil tanker routes have been disrupted, limiting deliveries from the Persian Gulf and lifting fuel costs worldwide. In Asia, Japan’s Nikkei 225 gained 0.7% to 67,743.50, and South Korea’s Kospi rose 0.7% to 6,856.83. The Shanghai Composite advanced 1.1% to 3,958.54, while Hong Kong’s Hang Seng was up 0.3% and Australia’s ASX 200 edged slightly lower. Wall Street’s Monday pullback followed heavy AI-stock declines and turned focus to upcoming earnings.