"Financial markets shifted back into a risk-off mode as the US and Iran exchanged fire again," analysts from Westpac wrote in a research report.

Asian shares are mostly lower as renewed fighting threatens the U.S.-Iran ceasefire. Oil prices were lower but still above $90 a barrel.

Asian shares are mostly lower as renewed fighting threatens the U.S.-Iran ceasefire

(Bloomberg) -- Asian stocks were poised for losses on Thursday as renewed clashes between the US and Iran added strain to a fragile ceasefire, while pushing oil prices higher.

Asia-Pacific markets open lower amid renewed tensions between Iran and the U.S. and worries that the conflict may keep inflation elevated.

"Financial markets shifted back into a risk-off mode as the US and Iran exchanged fire again," analysts from Westpac wrote in a research report.