Oil rises above $115 and Asia stocks slide as Iran war escalates
Source: BBC
Global oil prices jumped and stocks fell sharply on Monday morning in Asia as the US-Israel war with Iran escalates.
The price of Brent crude rose by more than 3% to above $115 (£86.77) a barrel, while US-traded oil climbed to $103 after gaining around 3.5%. It puts Brent on track for its biggest monthly gain on record.
Stock markets in Asia opened lower, with Japan's Nikkei 225 down by 4.5% and the Kospi in South Korea 4% lower.
It comes after Iran-backed Houthi rebels in Yemen joined the conflict by striking Israel over the weekend and Iran threatened to expand retaliatory strikes against universities and the homes of US and Israeli officials
Read more: https://www.bbc.com/news/articles/cz905eyjznno
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Osmond Chia
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