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Asian stocks advance as oil rises amid us-iran tensions
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Asian stocks climbed higher on Monday, led by companies focused on artificial intelligence, despite escalating concerns over Middle East stability. Oil prices jumped after President Donald Trump rejected Iran's response to a US peace proposal as unacceptable. The developments come amid a 10-week-old conflict between the two nations.
South Africa's annual supply mission to Marion Island has been delayed due to fuel shortages caused by the war between the US, Israel and Iran. The Department of Forestry, Fisheries and the Environment confirmed that global scarcity of specialised polar diesel disrupted the departure of the SA Agulhas II. Officials stated they are working to limit the impact while ensuring safety.
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Bitcoin climbed above $82,000 on May 6, driven by reports of easing tensions between the United States and Iran. Oil prices fell sharply as President Donald Trump paused a military operation in the Strait of Hormuz. The move triggered more than $200 million in short liquidations.
Argentina's country risk index, measured by JP Morgan, closed at 549 basis points on Thursday, April 23, 2026, up 14 units. Local markets fell in line with Wall Street volatility and US-Iran geopolitical tensions. Sovereign bonds dropped an average of 0.7%.
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Crude oil prices have surpassed $100 per barrel amid stalled peace talks between the United States and Iran. Trade through the Strait of Hormuz remains restricted, with Iran seizing two ships and the US maintaining a naval blockade. Analysts warn of further price increases due to ongoing disruptions.
Egypt’s real estate market continues to demonstrate resilience despite ongoing regional uncertainty, according to Savills Egypt. Developers are maintaining project pipelines and demand holds steady, despite rising energy costs.
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Iran returned the Strait of Hormuz to full military control on Saturday, just a day after announcing its reopening to commercial traffic during a U.S.-Iran ceasefire. The rapid reversal came amid persistent U.S. naval restrictions and low actual transits, heightening tensions in the key energy corridor.
Asian stocks rise as Trump indicates Iran negotiation progress
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