Oil Rebound Leaves Asian Stock Markets Split

Asian shares were mixed Monday as oil prices climbed. Brent crude rose 1.8% to $106.19 a barrel, while benchmark U.S. crude gained 1% to $93.33.

Japan’s Nikkei 225 edged down less than 0.1% to 66,333.53. Australia’s S&P/ASX 200 rose 0.3%, while South Korea’s Kospi fell 2.3%. Hong Kong’s Hang Seng gained 0.7%, and Shanghai’s Composite lost 1.7%.

Oil prices had cooled last week, with Brent briefly falling to around $97. Prices remain volatile amid uncertainty over when the war with Iran will allow oil to flow freely from the Middle East, including through the Strait of Hormuz.

On Wall Street, the S&P 500 rose 0.5% Friday, ending a three-day losing streak and giving the index its first winning week in three. The Dow gained 0.9%, and the Nasdaq rose 0.5%.

The 10-year Treasury yield eased to 5.15% late Friday after briefly reaching 5.22%. The Associated Press reported that lower oil prices helped yields retreat and supported stocks.