Asia markets moderate losses after reported Saudi oil release slightly ease prices

[nitpicked]

https://www.cnbc.com/2026/03/09/nikkei-225-hang-seng-index-kospi-crude-wti-brent-oil-futures-iran-war-gulf-hormuz.html

Asia-Pacific markets moderated losses following a rout Monday, after Saudi Arabia reportedly offered crude on the market, easing oil prices. The kingdom had offered roughly 4.6 million barrels via a pipeline to Yanbu on the Red Sea, Bloomberg reported.

Oil prices dipped after the news, with Brent futures trading up 16.13% at $107.71 per barrel and U.S. West Texas Intermediate crude futures at 13.74% higher at 103.47.

Both benchmarks were nearly at $120 per barrel earlier. The surge comes after major Middle Eastern oil producers, including Kuwait, Iran and the United Arab Emirates, cut oil production following the closure of the Strait of Hormuz.

South Korea’s Kospi triggered its second circuit breaker in four sessions on Monday, leading a broader regional sell-off as oil prices neared $120 per barrel for the first time since 2022.
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