Motorcyclists line up to refuel with nonsubsidized fuel Pertamax on March 1, 2026, at a gas station in the Kuningan area, Jakarta. (Antara/Indrianto Eko Suwarso)
Brent crude hit on Monday its highest price since June due to renewed fighting between the United States and Iran, while Asian equities were mixed as investors weighed the fallout of a prolonged Middle East war.Crude has surged over the past week as Washington and Tehran traded fire, raising fears of a sustained disruption in the Strait of Hormuz, which carries around a fifth of the world's seaborne oil.
Both Brent crude and US benchmark West Texas Intermediate extended their gains after climbing more than four percent at the end of last week. Brent rose above US$91 a barrel, its highest price since June 11.
The latest moves came after another weekend of escalating fighting, with the United States carrying out fresh strikes on Iranian targets and Tehran responding with attacks on regional military assets in the Gulf.
The conflicting signals have left investors struggling to gauge the outlook for markets.
