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

[nitpicked]

1. I expect another rollercoaster day on Wall Street

https://www.cnbc.com/2026/03/08/stock-market-today-live-updates.html

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Futures tied to the Dow fell 768 points, or 1.62%, by 3:23 a.m. ET, paring earlier losses which saw them down over 1,000 points. S&P 500 futures lost 1.52% and Nasdaq 100 futures dropped 1.55%.

West Texas Intermediate crude jumped 13% to $102.68 per barrel, having earlier been as high as $113, its first time above the $100 level since 2022, when investors were reacting to the aftermath of Russia’s invasion of Ukraine. International benchmark Brent crude added almost 16% to reach more than $107 a barrel. U.S. oil prices began the year below $60 a barrel.

Oil futures jumped on Sunday night after major Middle East producers slashed their output due to the continued closure of the key Strait of Hormuz passageway. Kuwait announced cuts but did not say by how much, while Iraq has reportedly seen its production fall 70%.

The $100 oil level was seen by many on Wall Street as a breaking point for the economy unless the war is resolved quickly and prices retreat.
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