Asian stock markets advanced on Wednesday, led by gains in Japan and South Korea, as oil prices eased slightly despite a series of attacks by Iran on its Gulf neighbors.

U.S. stock futures also rose 0.6% following moderate gains on Wall Street, ahead of the Federal Reserve’s interest rate decision later in the day. Analysts expect the Fed to keep rates unchanged amid concerns that higher oil prices could push inflation up.

Global oil and gas supply worries continue to weigh on markets. Brent crude, the international benchmark, dropped 2% to around $101 per barrel, down from over $106 on Monday. U.S. crude fell 3.6% to $92.78 per barrel.

Iran launched multiple attacks on Gulf countries and Israel on Wednesday after one of its top leaders was killed in an airstrike. The strikes, which included missiles designed to bypass air defenses, reportedly killed two near Tel Aviv. Despite the escalation, markets largely shrugged off the tensions.

In Tokyo, the Nikkei 225 rose 2.9% to 55,239.40 after February exports came in higher than expected. South Korea’s Kospi surged 5% to 5,925.03, boosted by lower oil prices benefiting major importers.

Hong Kong’s Hang Seng climbed 0.8% to 26,076.00, while Shanghai’s Composite Index gained 0.3% to 4,063.77. Australia’s S&P/ASX 200 added 0.3%, Taiwan’s Taiex rose 1.5%, and India’s Sensex advanced 0.9%.

Analysts from ING Bank noted that global oil flows remain limited, even as hopes grow that Iran may allow more vessels through the Strait of Hormuz, a crucial route for nearly a fifth of the world’s crude oil. The strait has been largely closed to ships linked to the U.S., Israel, and their allies.

In U.S. markets on Tuesday, the S&P 500 rose 0.3%, the Dow Jones edged up 0.1%, and the Nasdaq gained 0.5%. Delta Air Lines shares jumped 6.6% after raising its revenue forecast amid strong demand. Uber Technologies rose 4.2%, announcing plans to expand its autonomous vehicle partnership with Nvidia in San Francisco and Los Angeles next year.

In currency trading, the U.S. dollar fell to 158.76 Japanese yen from 159.01 yen, while the euro inched up to $1.1544 from $1.1542.