Oil prices rise, stock markets fall for a second day amid US-Israeli conflict with Iran
Iran's Islamic Revolutionary Guard Corps (IRGC) has threatened to “set fire” to any ships that try to pass through the Strait of Hormuz.Brigadier General Ebrahim Jabari, adviser to the commander of the Revolutionary Guard, says it will not allow US access to any oil.
As a result of all that turmoil around the Strait of Hormuz, stock markets in Europe are falling for a second day, following declines in Asia.
South Korea's benchmark KOSPI index tumbled by as much as 6.4 percent.
That briefly prompted regulators to halt trading, by triggering a mechanism intended to prevent major market swings.
European gas prices jumped more than 20 percent to the highest level in three years.
That's after Qatar's state-owned energy firm halted liquefied natural gas production on Monday, citing Iranian missile attacks on its facilities.
Al Jazeera’s Jack Barton is in Seoul, South Korea and Katrina Yu is in Beijing with the latest updates.
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