<div id="readability-page-1">Oil surge fears: Brent crude rose above $105 as the Strait of Hormuz remained largely closed, intensifying supply concerns. Market reaction: Asian equities were mixed, with Seoul's KOSPI falling 3% and MSCI's Asia ex-Japan index down 1%, while Tokyo's Nikkei was flat. Diplomatic uncertainty: Trump's rejection of Iran's terms deepened geopolitical risks, and his China visit is expected to yield only symbolic trade gestures.</div>

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<p>Asian markets experienced a downturn as Brent crude oil prices surged above $105 due to the closure of the Strait of Hormuz, raising supply concerns. The KOSPI in Seoul dropped 3%, and the MSCI Asia ex-Japan index fell 1%, while Tokyo's Nikkei remained unchanged. Geopolitical risks escalated following Trump's rejection of Iran's terms, and his upcoming visit to China is anticipated to result in only symbolic trade gestures.</p>

BP p.l.c.

HSPC

Occidental Petroleum

ISHRS S&P Glb Engy

iShares US Oil Equip & Svcs

United States Oil Fund LP

VG Energy

China Southern CNI Oil&Gas ETF

WisdomTree Brent Crude Oil 1mth

Pro Ultr Bloomberg Crude Oil

SPDR Energy Select

iShares US Oil & Gas Expl & Prod

WisdomTree Brent Crude Oil

WisdomTree Brent Crude Oil Longer Dated

SPDR O&G Ex & Prd

VanEck Oil Services ETF

SPDR O&G Equip

Us Brent Oil

VanEck Oil Refiners ETF

Asian markets slip as Iran tensions lift oil prices