Trending Now - Asian Markets Climb as Oil Prices Surge Amid Iran Tensions
WHO:
ABC News - President Donald Trump
AP - Japan’s Prime Minister Sanae Takaichi
Business Insider - Marko Papic, chief strategist at BCA Research
AP - Analysts at Freedom Capital Markets, including Jay Woods
WHAT:
ABC News - Asian markets that were open for trading mostly rose.
ABC News - Japan's Nikkei 225 rose nearly 1.1% to 53,692.42.
AP - Japan’s Nikkei 225 rose 0.7% to 53,514.39.
AP - South Korea’s Kospi gained 1.4% to 5,450.33.
Business Insider - Trump threatened to target Iran’s power plants and bridges if the Strait of Hormuz is not reopened by Tuesday.
Business Insider - Brent crude oil futures spiked 2.6% before paring gains to trade 0.7% higher at $109.65 per barrel.
Business Insider - U.S. West Texas Intermediate oil futures were 0.3% lower at $111.17 after climbing as high as $115.48 per barrel.
Business Insider - The average price of gas in the U.S. exceeded $4 for the first time since 2022.
Business Insider - Jet fuel prices reached $195 at the end of March 2026.
WHERE:
ABC News - Japan, South Korea, Australia, Hong Kong, Shanghai
Business Insider - Strait of Hormuz, Iran
AP - Persian Gulf, Japan, South Korea
WHEN:
ABC News - Trading occurred on Monday, April 6th, 2026.
Business Insider - Trump made threats on Sunday, April 5th, 2026.
Business Insider - The deadline for Iran to open the Strait of Hormuz is on Tuesday, April 7th, 2026.
Business Insider - U.S. and Israel began bombing Iran in late February 2026.
WHY:
ABC News - Investors are closely watching the war in Iran and soaring oil prices.
Business Insider - The closure of the Strait of Hormuz is crucial for global oil supplies.
HOW:
ABC News - The U.S. rescued two aviators whose fighter jet was shot down by Iran.
AP - Japan is releasing its reserves and working on alternative routes for oil transport.
AP - South Korea plans to send at least five ships to Saudi Arabia to establish new oil transport routes in the Red Sea.
(UPDATED April 6, 2026 09:17 UTC)
President Trump threatened on Sunday to target Iran’s power plants and bridges if the Strait of Hormuz is not reopened by Tuesday, as Asian markets showed mostly positive trading on Monday, with Japan's Nikkei 225 rising nearly 1.1% to 53,692.42 and South Korea’s Kospi gaining 1.4% to 5,450.33. Meanwhile, Brent crude oil futures spiked 2.6% before settling 0.7% higher at $109.65 per barrel, and the average price of gas in the U.S. surpassed $4 for the first time since 2022. In response to the ongoing conflict, Japan is releasing its reserves and exploring alternative oil transport routes, while South Korea plans to send ships to Saudi Arabia to establish new routes in the Red Sea.