United News of Bangladesh

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.

U.S. President ‘Donald Trump’said he has asked about seven countries to send warships to help keep the ‘Strait of Hormuz’ open as Iranian missile and drone attacks continued across Gulf countries on Monday. Trump said Washington is discussing the move with nations that heavily depend on Middle East oil, though he did not identify them. The narrow waterway normally carries around one-fifth of the world’s traded oil. Meanwhile, operations at ‘Dubai International Airport’, the world’s busiest airport for international travel, gradually resumed after a drone strike hit a fuel tank early Monday and sparked a fire. Authorities said the blaze was quickly controlled and no injuries were reported. Iran accused the United States without providing evidence of using facilities in the ‘United Arab Emirates’ to launch attacks on ‘Kharg Island’, a key terminal for Iran’s oil exports. The tensions pushed global oil prices higher, with ‘Brent crude oil’ trading close to $105 per barrel. Germany’s Foreign Minister ‘Johann Wadephul’ said the United States and ‘Israel’ should clarify when they believe their military objectives in the conflict have been achieved. He warned that Iran poses a serious threat to regional security, global trade and freedom of navigation, and said sanctions could be considered against those blocking the strait. The ‘United Kingdom’ announced £5 million ($6.6 million) in humanitarian assistance for ‘Lebanon’ to support more than 800,000 people displaced by Israeli operations against ‘Hezbollah’. Foreign Secretary ‘Yvette Cooper’expressed concern over the escalating crisis. The Israeli military said it has deployed additional ground troops into Lebanon for what it described as a “limited and targeted operation” to protect communities near its northern border. Military spokesman ‘Nadav Shoshani’ said Hezbollah had moved hundreds of elite fighters toward the frontier. In southern Lebanon, the state news agency reported that Israeli airstrikes killed three people, including two paramedics, in the village of ‘Kfar Sir’. Israel also claimed it had destroyed about 70% of Iran’s missile launchers during the first two weeks of the conflict and carried out roughly 7,600 strikes in Iran, damaging most of the country’s air defence systems and targeting several nuclear-related sites. Across the Gulf, several countries reported new attacks. ‘Bahrain’said its air defences intercepted four missiles and three drones, while ‘Saudi Arabia’ reported shooting down dozens of drones near ‘Riyadh’ and the kingdom’s oil-producing regions. A drone strike also caused a fire at an oil facility in ‘Fujairah Oil Industry Zone’, though no casualties were reported. In ‘Abu Dhabi’, authorities said a Palestinian civilian was killed when a missile struck a vehicle, raising the death toll in the UAE since the war began on Feb. 18 to seven. The ‘European Union’ is considering naval missions to help secure the Strait of Hormuz, according to foreign policy chief ‘Kaja Kallas’. Options include expanding the bloc’s ‘Operation Aspides’ or forming a coalition of willing member states. Trump also indicated he might delay his planned visit to ‘China’ if Beijing does not support efforts to stabilize shipping through the strait and calm oil markets. However, ‘Australia’ said it would not send a warship to the region, although it has provided surveillance aircraft and missiles to help the UAE defend against Iranian attacks.