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Stock impact report

Crude soars, stocks drop after US strikes on Iran [Yahoo! Finance]

INPEX CORP UNSP/ADR (IPXHY) 
NASDAQ:AMEX Investor Relations: inpex.co.jp/english/ir
Company Research Source: Yahoo! Finance
Oil prices soared and stocks fell in Asia on Monday after US-Israeli strikes on Iran sent investors fleeing the prospect of an extended conflict in the crude-rich Middle East. Brent briefly spiked almost 14 percent and West Texas Intermediate nearly 12 percent at the start of business after the attack on the Islamic Republic, which killed supreme leader Ayatollah Ali Khamenei and other senior officials. The bombings have also seen the vital Strait of Hormuz -- through which around 20 percent of global seaborne oil passes -- effectively shut and several ships attacked, fanning supply fears. Equity markets across Asia sank, with Tokyo, Hong Kong, Singapore, Wellington and Taipei all deep in the red. US futures were down more than one percent. However, energy firms rallied, with Australia's Woodside Energy jumping more than five percent and Santos climbing nine percent, while PetroChina added almost four percent in Hong Kong. Inpex in Japan was up more than 10 percent. Gold -- Show less Read more
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