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Oil Rockets as US Iran Clash Returns Spooking Asian Markets and Global Traders
International
Published on 5 May 2026
Crude spiked past $115 as ceasefire collapses again
Asian shares traded mixed today as renewed US Iran hostilities reignited Middle East fears. Crude prices jumped above $115 a barrel after fighting disrupted a ceasefire, raising expectations of further escalation. Traders now brace for volatility in energy and industrial activity, alongside higher geopolitical risk premiums across markets.
- Crude prices surged above $115 after renewed US Iran clashes
- A ceasefire was disrupted, reigniting escalation concerns
- Markets face higher energy and geopolitical volatility risk
- Industrial activity could feel pressure if oil stays elevated
Read the full story at The Economic Times
This summarization was done by Beige for a story published on 
The Economic Times