Asia-Pacific markets set to plunge after Iran strikes, oil futures spike by over 8%
By Lim Hui Jie
Published on March 1, 2026.
The U.S. and Israeli strikes on Iran, which killed Iranian supreme leader Ayatollah Ali Khamenei, have led to a significant increase in tensions in the Middle East. The world's oil futures also surged by over 8%, with West Texas Intermediate and Brent trading at $72.5.
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