Asian Markets Track Wall Street Lower

Asian stock markets are trading mostly lower on Thursday, following the broadly negative cues from Wall Street overnight, on spiking crude oil prices after new attacks in the Middle East stalled the signing of a U.S.-Iran peace agreement, delaying the reopening of the Strait of Hormuz, a critical waterway for the global energy market and trade. Asian markets closed mixed on Wednesday.

U.S. Central Command said U.S. forces defeated multiple Iranian ballistic missiles and drones and conducted “self-defense” strikes on Qeshm Island in response to attempted attacks by Iran.