March 13, New Delhi – Brent crude edged further above $100 per barrel, and stock prices declined in early Asian trading on Friday, following Iran's vow to target oil resources in West Asia and continue disrupting the Strait of Hormuz.
Brent, which had risen above $100 on Thursday, was up 0.20 percent at $100.66 this morning, while West Texas Intermediate remained unchanged at $95.75.
Meanwhile, all three major U.S. stock indexes experienced a significant decline, with the S&P 500 recording its largest three-day percentage drop in a month.
The S&P 500 fell by 1.52%, the Dow Jones Industrial Average dropped by 1.56%, and the Nasdaq Composite lost 1.78%.
Asian stock prices also declined in early Friday trading. In Japan, the Nikkei was down 1.4%, while South Korea's Kospi declined by 2.2%.