Oil and gas markets reacted sharply as reports emerged of U.S. plans to impose a blockade near the Strait of Hormuz, raising concerns over global energy supply stability. Crude oil futures climbed on fears of disrupted shipping lanes, while European natural gas prices also rose amid speculation about potential shortages. Traders closely monitored developments from Washington, with analysts noting that any military or diplomatic move in the region could significantly impact global commodity flows.
In other business news, Hungary’s incoming prime minister announced sweeping reforms aimed at reshaping the country’s economic and political landscape. The comments came as part of a broader shift in regional leadership, drawing attention from investors across Central and Eastern Europe. Meanwhile, Bloomberg: The Asia Trade continued its live coverage from Tokyo and Sydney, delivering real-time analysis on market-moving events shaping the day’s trading session.