Fire and smoke rise into the sky after an Israeli attack on the Shahran oil depot on June 15, 2025 in Tehran, Iran.
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Asia-Pacific markets are set to plunge Monday, after the United States’ attack on three nuclear sites in Iran raised oil prices and investors’ fears of an escalation in the Middle East conflict.
Oil prices have spiked in recent weeks following the increased tensions in the Middle East.
Brent Crude was trading at $78.88 per barrel after surging 2.48%, as of 7.30 a.m. Singapore time, while the West Texas Intermediate crude added 2.48% to $75.65.
Japan’s benchmark Nikkei 225 was set to open lower, with the futures contract in Chicago at 38,310, while its counterpart in Osaka last traded at 38,370, against the index’s Friday close of 39,403.23.
Futures for Hong Kong’s Hang Seng index stood at 23,396, pointing to a weaker open compared to the HSI’s last close of 23,530.48.
Australia’s S&P/ASX 200 is also slated to open lower, with futures tied to the benchmark at 8,469, compared to its last close of 8,505.50.
— CNBC’s Lisa Kailan Han, Sean Conlon, Brian Evans contributed to this report.
