Asian Shares Climb, Oil Prices Rise Amid Report of Possible Israeli Strike on Iran

Asian markets rose on Wednesday while oil prices jumped over 1% following a CNN report that Israel may be planning an attack on Iranian nuclear facilities, Elaine Kurtenbach reported for the Associated Press.

Tokyo’s Nikkei 225 fell 0.6% to 37,313.62 amid continued concerns over Trump’s increased tariffs on major U.S. trading partners. I Photo: Japan Exchange Group Facebook

Unnamed intelligence officials cited by CNN said Israel might be preparing for military action targeting Iran’s nuclear infrastructure.

As is typical during potential geopolitical flashpoints, oil prices surged before paring some gains. U.S. benchmark crude rose 79 cents to $62.82 per barrel, while Brent crude gained 77 cents to $66.15.

Iran has warned that it may pursue nuclear weapons, citing its stockpile of uranium enriched to near weapons-grade levels. U.S. President Donald Trump has repeatedly threatened airstrikes if no deal is reached on Iran’s nuclear program.

In equity markets, Tokyo’s Nikkei 225 fell 0.6% to 37,313.62 amid continued concerns over Trump’s increased tariffs on major U.S. trading partners.

Japanese officials reiterated this week their demand for all new tariffs on Japanese imports to be lifted in ongoing talks with Washington. Japan’s Ministry of Finance reported that exports to the U.S. declined nearly 2% year-on-year in April, while the global export growth rate slowed to 2% from 4% in March.