What immediate impact did the Middle East conflict have on global markets and oil prices, according to the news?

The Middle East conflict caused stocks in Asia to fall and kept oil prices 'well above $100 a barrel' due to heightened geopolitical risk and disruption to shipping in the Strait of Hormuz, which remained 'largely at a standstill' after Iranian missile attacks on a UAE oil port, explosions on merchant ships, and U.S. military action against Iranian boats.

How is the ongoing energy shock affecting Asian economies and monetary policy, as reported in the article?

The global energy shock is becoming 'increasingly costly for governments in Asia', prompting them to seek alternative fuel sources and insulate their economies; in the Philippines, surging fuel prices drove annual inflation to a three-year high in April, raising the likelihood of further policy tightening.

Morning Bid: Markets React to Middle East Conflict and Oil Price Surge

May 4, 2026

Escalating U.S.-Iran tensions disrupt shipping in the Strait of Hormuz, driving oil prices above $100 and raising inflation concerns across Asia. Meanwhile, central bankers and major firms like Pfizer and AMD prepare for upcoming economic data and earnings releases.

reuters

2026-05-04

Morning Bid: Markets React to Middle East Conflict and Oil Price Surge

Morning Bid: Markets React to Middle East Conflict and Oil Price Surge

FAQ