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NewsWPLG Local 10 – Main FeedAugust 12, 2026Miami-Dade

Asian markets rise and oil prices climb amid ongoing Middle East conflict

Asian stock markets mostly increased on Wednesday, while global oil prices rose due to continued uncertainty regarding shipping routes in the Middle East. The U.S. government is expected to release new inflation data that may influence future Federal Reserve interest rate decisions.

economystock marketoil pricesinflationinternational relations
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Why It Matters

Rising oil prices are contributing to higher gasoline costs for consumers and influencing inflation expectations, which directly impact interest rates and borrowing costs for households and businesses.

Key Facts

  • The Nikkei 225 index gained 0.6% to 67,334.94.
  • The South Korean Kospi index rose 4% to 6,597.90.
  • Brent crude oil prices rose 0.9% to $89.67 per barrel.
  • U.S. benchmark crude oil prices rose 0.9% to $83.98 per barrel.
  • The average cost of a gallon of regular gasoline is $4.01, up from $3.14 a year ago.
  • Economists expect U.S. inflation to be 3.4% for July, down from 3.5% in June.
  • The Strait of Hormuz remains closed following attacks in late February.
  • The Dow Jones Industrial Average fell 184 points.

Who's Mentioned

organizationSK Hynix“Memory chipmaker that saw stock gains.”organizationHouthi rebels“Group involved in an attack on a vessel in the Bab el-Mandeb strait.”organizationSamsung Electronics“South Korean company that saw stock gains.”organizationAAA“Source for gasoline price data.”organizationFederal Reserve“U.S. central bank responsible for interest rate policy.”personDonald Trump“U.S. President commenting on war negotiations with Iran.”