Oil price up more than 1 % in early Asian tradeTOKYO, March 5, 2026 (BSS/AFP) - Oil prices were up more than one percent in early Asian trade on Thursday off the back of persistent worries about supplies because of the Middle East conflict. But following days of market declines, Asian stocks rose in early trade Thursday. The conflict between the United States and Iran that began on Saturday has effectively closed shipping through the Strait of Hormuz. A fifth of the world's seaborne crude oil travels through the waterway as well as considerable volumes of liquefied natural gas (LNG). President Donald Trump sought to allay concerns about oil supplies being choked off, saying Tuesday that the US Navy was ready to escort oil tankers and that the United States would offer shippers insurance.

Source: Bangladesh Sangbad Sangstha March 05, 2026 14:25 UTC