Oil prices neared $100 per barrel on Tuesday.
World oil prices rallied Tuesday, once more closing in on $100 a barrel, and stock markets mostly retreated owing to a flare-up in the Middle East war.
Fresh attacks by Yemen's Iran-backed Houthi rebels on Saudi Arabia led to the halting of operations at several energy facilities in the kingdom, overshadowing Tehran's remarks that it was nearing a deal with Oman over shipping through the Strait of Hormuz.
"The market is staring down a Fed hike, a live inflation debate, oil near triple digits, the risk of further Japanese tightening... (and) renewed tariff threats against Canada" by the US, said analyst Stephen Innes at Quintex Intel.
The yen spiked as investors ramped up bets on the Bank of Japan hiking interest rates, which dragged down stocks in Tokyo.
