Oil Prices Climb as Middle East Conflict Strains Energy Supply Lines

West Texas Intermediate crude futures climbed 1.1% to $90.44 a barrel, while Brent crude gained 1.0% to $101.62. The strikes hit King Abdullah bin Abdulaziz International Airport and Najran International Airport, wounding three people. Saudi forces have responded with a counteroffensive, but analysts at ANZ Research warn that depleted global stockpiles leave the market exceptionally vulnerable to any prolonged flow disruption.

While energy costs surged, broader Asian equity markets faced downward pressure from position adjustments. Japan’s Nikkei slipped 0.4%, and the Hang Seng fell 0.6%. Investors are balancing these regional losses against a modest risk-on sentiment fueled by a rally in U.S. technology stocks. Meanwhile, bond yields remained mixed across the region, with 10-year U.S. Treasury yields ticking up 3 basis points to 5.308% during Asian trading hours.