World shares decline, while oil pops above $100 a barrel over Iran war
worries
[March 13, 2026] By
CHAN HO-HIM
HONG KONG (AP) — World shares retreated on Friday while oil prices again
popped above $100 per barrel as anxiety remained over the Iran war and
its impact on supplies of crude oil and gas.
U.S. futures slipped, with the futures for the S&P 500 and Dow Jones
Industrial Average down 0.3%.
In early European trading, Britain's FTSE 100 fell 0.7% to 10,235.29.
Germany's DAX lost 1% to 23,345.90, while France's CAC 40 dropped 1.2%
to 7,887.18.
In Asian trading, Tokyo’s Nikkei 225 index slipped 1.2% to 53,819.61.
Technology-related stocks saw some of the bigger losses, with SoftBank
Group falling 4.5%.
South Korea’s Kospi fell 1.7% to 5,487.24.
Hong Kong’s Hang Seng lost 1% to 25,465.60, while the Shanghai Composite
index was down 0.8% at 4,095.45.
Australia’s S&P/ASX 200 edged 0.1% lower to 8,617.10.
Taiwan’s Taiex was trading 0.5% lower, and India's Sensex dropped 1.8%.
Oil prices held steady as Brent crude, the international standard,
traded at $101 per barrel. Benchmark U.S. crude was up 0.5% at $96.23
per barrel.
On Thursday, Iran’s new Supreme Leader Ayatollah Mojtaba Khamenei, in
his first public statements, vowed Iran would keep fighting and continue
to use the Strait of Hormuz — a crucial waterway for oil and gas
transport which has been effectively closed with significant marine
traffic disruptions — as leverage against the U.S. and Israel.
Roughly 20% of the world’s oil is estimated to flow through the strait,
and attacks on ships in or around the strait have already heightened
concerns "over the scale of supply disruption and persistent shipping
bottlenecks,” wrote analysts at Mizuho Bank in a commentary.
[to top of second column] |
 The remarks from Iran’s new leader
came after U.S. President Donald Trump said the war was “very
complete,” which have raised worries over how much longer the
tensions could last. Intense strikes hit Iran’s capital Tehran
Friday morning.
Oil prices have been volatile since the Iran war
began. While the International Energy Agency said Wednesday its
members would make a record 400 million barrels of oil available
from their emergency reserves, some economists believe that would do
little to reassure markets.
Global inflation will likely worsen as oil prices jump, and rising
fuel costs are already starting to hurt consumers globally. Rising
energy prices could also, for example, push up AI and chip
development and production costs, some analysts say.
Wall Street recorded losses Thursday following volatile swings this
month. The S&P 500 dropped 1.5% and the Dow Jones Industrial Average
fell 1.6%. The Nasdaq composite shed 1.8%.
Shares at some of the companies heavily reliant on fuel costs saw
bigger drops. Cruise-ship operator Carnival fell 7.9%, and United
Airlines sank 4.6%.
In other dealings early Friday, gold and silver prices fell. The
price of gold fell 0.8% to $5,082.70 an ounce, and the price of
silver dropped 3.2% to $82.38 per ounce.
The U.S. dollar rose to 159.43 Japanese yen from 159.34 yen. The
euro was trading at $1.1449, down from $1.1512.
All contents © copyright 2026 Associated Press. All rights reserved
 |
