{"id":62045,"date":"2026-05-17T21:38:16","date_gmt":"2026-05-18T01:38:16","guid":{"rendered":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/oil-surges-to-107-on-hormuz-fears-as-asian-markets-slump-and-kospi-triggers-circuit-breaker\/62045\/"},"modified":"2026-05-17T21:38:16","modified_gmt":"2026-05-18T01:38:16","slug":"oil-surges-to-107-on-hormuz-fears-as-asian-markets-slump-and-kospi-triggers-circuit-breaker","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/oil-surges-to-107-on-hormuz-fears-as-asian-markets-slump-and-kospi-triggers-circuit-breaker\/62045\/","title":{"rendered":"Oil Surges to $107 on Hormuz Fears as Asian Markets Slump and KOSPI Triggers Circuit Breaker"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/oil-surges-to-107-on-hormuz-fears-as-asian-markets-slump-and-kospi-triggers-circuit-breaker\/62045\/#Key_Takeaways\" >Key Takeaways<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/oil-surges-to-107-on-hormuz-fears-as-asian-markets-slump-and-kospi-triggers-circuit-breaker\/62045\/#Energy_Markets_and_Geopolitical_Tensions\" >Energy Markets and Geopolitical Tensions<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/oil-surges-to-107-on-hormuz-fears-as-asian-markets-slump-and-kospi-triggers-circuit-breaker\/62045\/#Asian_Equities_and_Global_Bond_Selloff\" >Asian Equities and Global Bond Selloff<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/oil-surges-to-107-on-hormuz-fears-as-asian-markets-slump-and-kospi-triggers-circuit-breaker\/62045\/#Corporate_Developments_Samsung_and_Apple\" >Corporate Developments: Samsung and Apple<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/oil-surges-to-107-on-hormuz-fears-as-asian-markets-slump-and-kospi-triggers-circuit-breaker\/62045\/#Commodities_and_Currencies\" >Commodities and Currencies<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/oil-surges-to-107-on-hormuz-fears-as-asian-markets-slump-and-kospi-triggers-circuit-breaker\/62045\/#Global_Health_and_Security_Risks\" >Global Health and Security Risks<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Key_Takeaways\"><\/span>Key Takeaways<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul>\n<li><strong>Crude oil prices surged over $2 to reach $107.52\/bbl<\/strong>, the highest level since April, driven by fears of a prolonged <strong>Strait of Hormuz<\/strong> closure and deadlocked Iran-U.S. peace talks.<\/li>\n<li><strong>South Korea\u2019s KOSPI triggered a sell-side sidecar<\/strong> after opening sharply lower due to persistent inflation concerns and overnight losses in U.S. markets.<\/li>\n<li><strong>Samsung Electronics (<a href=\"\/stock\/005930.KS\">005930.KS<\/a>) shares rallied 3%<\/strong> following news that its labor union is willing to engage in a second round of mediated talks, reversing earlier intraday losses.<\/li>\n<li><strong>The People&#39;s Bank of China (PBOC) weakened the yuan midpoint to 6.8435<\/strong>, while <a href=\"https:\/\/stockmarketwatch.com\/metal\/gold\" data-internallinksmanager029f6b8e52c=\"4\" title=\"gold price today\">gold prices<\/a> slipped nearly 1% to trade at <strong>$4,485.89\/oz<\/strong> amid rising Fed rate-hike expectations.<\/li>\n<li><strong>A potential Ebola outbreak in Congo and Uganda<\/strong> has prompted the CDC to assist in the withdrawal of at least six Americans who were exposed to the virus.<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Energy_Markets_and_Geopolitical_Tensions\"><\/span>Energy Markets and Geopolitical Tensions<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><strong>U.S. crude futures jumped to $107.52 per barrel<\/strong> early Monday as the prospect of a prolonged closure of the <strong>Strait of Hormuz<\/strong> rattled energy markets. The price spike follows a deadlock in peace talks between Iran and the U.S., which has intensified fears of extended supply disruptions in the region.<\/p>\n<p>Adding to the friction, shipping monitor <strong>TankerTrackers<\/strong> reported that the Russian tanker <strong>PEGASUS<\/strong>, currently under U.S. sanctions, has been intentionally moving in and out of the U.S. blockade perimeter around Iran. Satellite imagery confirmed these movements were genuine, further straining the geopolitical landscape.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Asian_Equities_and_Global_Bond_Selloff\"><\/span>Asian Equities and Global Bond Selloff<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Asian markets faced significant selling pressure, led by a sharp decline in South Korea where the <strong>KRX issued a sell-side sidecar<\/strong> for the <strong>KOSPI<\/strong> to manage volatility. Japan\u2019s <strong>Nikkei<\/strong> dropped 0.86% to 60,878.33, while the <strong>TOPIX<\/strong> fell 0.87%, tracking a global selloff in government bonds.<\/p>\n<p><strong>Taiwanese equities declined over 2%<\/strong>, extending recent market weakness as the overnight interbank rate remained flat at 0.805%. In Europe, <strong>German Bund and French OAT futures<\/strong> slipped 0.4% in early deals, reflecting a broader retreat from sovereign debt.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Corporate_Developments_Samsung_and_Apple\"><\/span>Corporate Developments: Samsung and Apple<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><strong>Samsung Electronics (<a href=\"\/stock\/005930.KS\">005930.KS<\/a>)<\/strong> emerged as a bright spot, with shares jumping more than 3% to extend upside momentum. The gain followed an announcement that the company\u2019s labor union is ready to participate in mediated talks, easing concerns over potential industrial action.<\/p>\n<p>Meanwhile, <strong>Apple (<a href=\"\/stock\/AAPL\">AAPL<\/a>)<\/strong> is reportedly maintaining high profit margins by utilizing &quot;imperfect chips&quot; for its latest hit products. This strategy highlights the tech giant&#39;s ability to optimize supply chain yields despite ongoing semiconductor manufacturing challenges.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Commodities_and_Currencies\"><\/span>Commodities and Currencies<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><strong>Gold prices consolidated at $4,485.89\/oz<\/strong>, down nearly 1% as investors weighed the impact of potential Federal Reserve rate hikes. In the industrial metals sector, <strong>Shanghai tin futures crashed over 4%<\/strong> in the most active contract, extending a period of heavy losses.<\/p>\n<p>The <strong>PBOC set the yuan midpoint at 6.8435<\/strong>, significantly weaker than the previous close of 6.8140. Despite the weaker fix, mainland Chinese demand for <strong>Hong Kong real estate<\/strong> continues to grow, driven by rising rents and long-term yuan gain expectations.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Global_Health_and_Security_Risks\"><\/span>Global Health and Security Risks<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The <strong>CDC is currently aiding the withdrawal of Americans<\/strong> from the Congo and Uganda following an <strong>Ebola outbreak<\/strong>. While it remains unclear if the six exposed individuals are infected, the situation has heightened global health monitoring.<\/p>\n<p>In other global developments, <strong>G7 finance chiefs<\/strong> are meeting to address trade imbalances and strains on unity. Concurrently, security forces in <strong>Bolivia<\/strong> moved to clear roadblocks near La Paz as protesters demand the resignation of <strong>President Rodrigo Paz<\/strong>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways Crude oil prices surged over $2 to reach $107.52\/bbl, the highest level since April, driven by fears of [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":50383,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center 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