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Asian stocks slip as oil surges on Strait of Hormuz Iran tensions
International
Published on 8 May 2026
Crude spikes after attack response and Trump warning
Asian markets pulled back from record highs as Middle East tensions escalated, sending crude oil higher and reviving worries about energy supply. The Strait of Hormuz saw an exchange after Iranian-linked attacks, prompting a US response, while President Trump delivered a sharp warning. Traders are watching de-escalation closely, even as the AI trade remains in focus.
- Asian stocks retreated after Middle East tensions intensified
- Oil climbed sharply, reviving energy supply concerns
- US forces responded near the Strait of Hormuz
- Investors still weigh de-escalation alongside AI trade momentum
Read the full story at The Economic Times
This summarization was done by Beige for a story published on 
The Economic Times