Skip to Content News Archives Economy Energy Oil & Gas Renewables Electric Vehicles Mining Commodities Agriculture Real Estate Mortgages Mortgage Rates Finance Banking Insurance Fintech Cryptocurrency Work Wealth Smart Money Wealth Management Investor Personal Finance Family Finance Retirement Taxes High Net Worth FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials More Innovation Information Technology FP500 Podcasts Small Business Lives Told Tails Told Shopping Financial Post Store Obituaries Place a Notice Advertising Advertising With Us Advertising Solutions Postmedia Ad Manager Sponsorship Requests Classifieds Place a Classifieds ad Working Profile Settings My Subscriptions Saved Articles My Offers Newsletters Customer Service FAQ News Economy Energy Mining Real Estate Finance Work Wealth Investor FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials HomePMN BusinessOil Gains After Iran Attacks, Asian Stocks Advance: Markets WrapCrude oil climbed after fighting erupted in the Middle East, ending several days of calm and renewing concerns over disruptions to energy supplies. Stocks in Asia gained.Author of the article:Last updated 15 minutes ago You can save this article by registering for free here. Or sign-in if you have an account.9{5oa[degl)fgfh9j)0(x4oz_media_dl_1.png ICE, Bloomberg(Bloomberg) — Crude oil climbed after fighting erupted in the Middle East, ending several days of calm and renewing concerns over disruptions to energy supplies. Stocks in Asia gained.Subscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.Subscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountorBrent rose 3.4% to about $87 a barrel, snapping a three-day decline, after the US military said it successfully intercepted an Iranian “attempted surprise attack” on troops based in the Middle East. A few days of calm saw the global oil benchmark post its biggest three-day decline since April 2020.Elsewhere, South Korean shares advanced around 2%, with SK Hynix Inc. among the top gainers after quarterly profit rose 557%. The broader MSCI Asia Pacific Index climbed 0.7%.Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againContracts for the Nasdaq 100 slid as much as 0.6% after the attacks, before swinging to gains. Earlier, a selloff in chipmakers had left the underlying gauge on the brink of a technical correction as investors bail from high-profile chipmakers in favor of more economically sensitive industries. The renewed fighting has shifted investors’ focus back to the Strait of Hormuz, with the risk of disruptions to oil flows threatening to fuel inflation just ahead of the Federal Reserve’s interest-rate decision on Wednesday. That adds another layer of uncertainty for investors already rotating out of technology stocks amid growing doubts over whether billions of dollars of artificial-intelligence spending will generate adequate returns.“We remain cautious of any potential deal that does not concretely settle the Hormuz topic, given disagreements over management of the Strait led to Iranian aggression and an early failure of the prior MOU,” said Ryan McKay, senior commodity strategist at TD Securities. Meanwhile, President Donald Trump welcomed Israeli Prime Minister Benjamin Netanyahu to the White House Tuesday as the US leader sought to avoid renewed bombing in Iran and instead laid the ground for further diplomacy.Elsewhere, the focus is on the semiconductor sector. Micron Technology Inc. and Sandisk Corp. were among the biggest drags on the S&P 500 on Tuesday, while the Philadelphia Semiconductor Index fell 4.5%, putting the gauge on course for its worst month since 2002 after its strongest quarter on record.The divergence in S&P 500 and Nasdaq 100 moves “reflects rotation” away from chipmakers, First New York portfolio manager Vikram Rai said. The Nasdaq 100 “can’t go up if semiconductors and memory don’t go up,” he added. The moves create a challenging backdrop ahead of earnings from the largest US tech companies. Microsoft Corp. and Meta Platforms Inc. report results on Wednesday, followed by Apple Inc. and Amazon.com Inc. a day later.Attention on Wednesday is also on the Fed.Analysts at JPMorgan Chase & Co. said the probability of a rate hike is likely less than the roughly 30% chance currently priced, as “inflation, while elevated, does not appear to at-risk of an upside explosion.” They assign a 50% chance to a “hawkish hold,” as the central bank will want to stay vigilant even though recent energy prices suggest disinflation may be ahead.“A mild bout of risk aversion is looming over financial markets ahead of the Fed policy decision and two weeks of significant corporate earnings,” RSM Chief Economist Joseph Brusuelas said. With tech and oil company results ahead, there might have been “a bit more willingness to put capital to work” if not for rising concerns about AI competition from China and tech-ecosystem financials, he said.Corporate Highlights:Nvidia Corp. Chief Executive Officer Jensen Huang defended open-weight artificial intelligence systems as crucial to developing the nascent AI industry, as officials in Washington consider how to respond to a surprise breakthrough from Chinese startup Moonshot.Meta Platforms Inc. and BlackRock Inc. plan to build a 1-gigawatt data center complex in Texas that will cost about $14 billion to develop, adding to a wave of investment in the computing hubs that power AI.Ford Motor Co. posted earnings ahead of Wall Street estimates and raised its outlook for the second time this year on higher prices and strong sales of high-margin sport-utility vehicles.Some of the main moves in markets:StocksS&P 500 futures rose 0.4% as of 9:02 a.m. Tokyo timeHang Seng futures rose 0.5%Japan’s Topix rose 0.4%Australia’s S&P/ASX 200 rose 0.8%Euro Stoxx 50 futures were little changedCurrenciesThe Bloomberg Dollar Spot Index was little changedThe euro was little changed at $1.1385The Japanese yen was little changed at 163.86 per dollarThe offshore yuan was little changed at 6.7718 per dollarThe Australian dollar was little changed at $0.6973CryptocurrenciesBitcoin rose 0.2% to $63,953.88Ether rose 0.4% to $1,923.61BondsThe yield on 10-year Treasuries advanced one basis point to 4.62%Australia’s 10-year yield was little changed at 4.96%CommoditiesWest Texas Intermediate crude rose 3.4% to $81.97 a barrelSpot gold fell 0.2% to $4,020.81 an ounceThis story was produced with the assistance of Bloomberg Automation. 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