July 24, 2026 8:52 AM
Asian stocks skid as oil spike revives inflation fears, bonds take a hit
Asian shares fell on Friday as oil prices stormed back above $100 a barrel amid an intensifying conflict in the Gulf, rattling bond markets and reviving fears of a fresh inflation shock. Brent crude held at $100.85 a barrel, after surging 7% overnight to a two-month high of $102 as attacks by Iran-aligned Houthis on Saudi tankers in the Red Sea choked off a second crucial Middle East artery for global oil supplies, alongside Iran's near-closure of the Strait of Hormuz. Two weeks since the effe...