HONG KONG, March 11, 2026 (BSS/AFP) - Asian equities extended gains Wednesday while oil stabilised after a report said the International Energy Agency was considering the release of a record amount of its reserves to counter soaring prices. As one of the world's most important oil shipping routes, any disruption to traffic through the strait would immediately reignite supply fears and likely send crude prices sharply higher again. "Until traders see clear confirmation that shipping routes are secure and production across the region is stabilising, oil prices are unlikely to retreat significantly further from current levels." Iran has responded to the strikes by vowing to block Gulf oil exports and asserting that it, not the US, would "determine the end of the war". Trump warned Tehran against mining the waterway, through which nearly 20 percent of the world's crude oil usually transits from the Gulf to world markets.

Source: Bangladesh Sangbad Sangstha March 11, 2026 03:39 UTC