Oil up again in Asian trade, with focus on Iran warTOKYO, March 17, 2026 (BSS/AFP) - Oil climbed again in Asia on Tuesday after prices retreated a day earlier, with investors remaining focused on the Strait of Hormuz. Japan said Monday it was beginning the release of its strategic oil reserves and the head of the International Energy Agency, Fatih Birol, said member countries could unlock more oil from strategic stocks "if needed." But attacks on Middle Eastern oil facilities continued, with drones hitting major oil fields in the United Arab Emirates and Iraq on Monday. On stock markets, Japan's Nikkei was up 0.57 percent and the Kospi in South Korea was 2.40 percent higher. That followed a rise on Wall Street, while most European stock markets also climbed Monday as the US-Israel war on Iran entered its third week.

Source: Bangladesh Sangbad Sangstha March 17, 2026 03:13 UTC