Asia-Pacific markets are expected to open higher on Wednesday, with Japan's Nikkei 225 expected to rise, with the Chicago futures contract at 54,855 and Osaka contract at 55,870. Hong Kong Hang Seng index futures at 25,936, compared to their previous close of 25,950. Oil prices have dropped from their peak of nearly $120 a barrel to $86.15 per barrel. U.S. crude oil prices have also dropped since the Iran conflict, with expectations that a group of countries would use emergency crude reserves to mitigate disruption caused by the conflict.