Oil prices ease and Asian shares are mixed as energy supply worries over Iran war remain

Market Overview - Asian shares exhibited mixed performance following losses on Wall Street, with oil prices retreating to around $107 per barrel after a brief surge to approximately $119 per barrel due to escalating tensions in the Iran war [1][2] - The Iran war, now in its third week, has significantly impacted energy prices and raised global inflation concerns, particularly with the Strait of Hormuz being largely closed, affecting oil and gas supply [4] Oil Market Dynamics - Brent crude oil prices fell 1.6% to $106.90 per barrel in early trading on Friday, influenced by Israeli Prime Minister Benjamin Netanyahu's decision to hold off on further attacks on Iran's gas field at the request of U.S. President Donald Trump [3] - U.S. benchmark crude also saw a decline of 2%, settling at $93.63 per barrel [3] Asian Market Performance - In Asian markets, South Korea's Kospi increased by 0.6% to 5,798.23, while Hong Kong's Hang Seng index decreased by 0.6% to 25,340.43. The Shanghai Composite index rose by 0.2% to 4,013.16, and Australia's S&P/ASX 200 fell by 0.5% [5] U.S. Market Performance - Wall Street experienced modest losses, with the S&P 500 down 0.3% to 6,606.49, the Dow Jones Industrial Average losing 0.4% to 46,021.43, and the Nasdaq composite declining by 0.3% to 22,090.69 [6] - Despite reporting better-than-expected quarterly results, shares of U.S. memory chip maker Micron Technology fell by 3.8%, although they remain up approximately 330% over the past year due to a global memory shortage [6] Precious Metals Market - Gold prices increased by 2.6% to $4,727.20 per ounce, while silver prices rose by 4.2% to $74.22 per ounce, recovering from earlier declines [7]