Oil Price Breaches US$100 Again, Asian Markets Open Lower

Asian markets opened lower this morning as a result of rising oil prices and tensions between Iran and the United States (US) that have left investors anxious.

Japan’s Nikkei 225 index fell 1.2%, while the Topix index weakened 1%.

South Korea’s Kospi index dropped 1.8% at the open, while the Kosdaq index, which covers small-capitalisation shares, declined 2.17%.

Australia’s benchmark S&P/ASX 200 index fell 0.47%.

Hong Kong’s Hang Seng index futures were last at 24,885, lower than the index’s previous close of 25,210.81.

In Australia, S&P/ASX 200 futures were last trading at 8,750, whilst the index closed at 8,839.

Brent crude oil futures broke through US$100 per barrel for the first time since late May 2026. The price jumped around 7% compared to yesterday.

Meanwhile, West Texas Intermediate (WTI) futures rose around 6% on the same day, after two Saudi Arabian oil tankers were reported to have been attacked in the Red Sea.

“Although the market’s current positioning does not guarantee that oil prices will continue to rise, it means the market is entering the latest escalation in a condition that is ill-prepared for a price shock,” said Adam Turnquist, chief technical strategist at LPL Financial, quoted by CNBC International on Friday (24/8/2026).

According to him, when market sentiment and positioning are highly bearish, even a moderate decline in supply expectations can trigger an extraordinary price response.