Asian stock markets have shown a notable rebound following significant losses attributed to the ongoing crisis in the Middle East. The South Korean KOSPI, which experienced its largest drop ever of 12% earlier in the week, surged nearly 10% in a single day. Japan's Nikkei index also saw an increase of 1.9%, and MSCI’s Asia-Pacific index excluding Japan jumped by 2.7%, suggesting a renewed investor confidence despite persistent geopolitical tensions.

Simultaneously, oil prices have continued to climb, fueled by reports of military actions in the region, including an incident where a US oil tanker was reportedly struck by a missile launched by Iranian forces. As a result, Brent crude oil prices rose by 3.3% to $84 a barrel, a reflection of the uncertainty surrounding Middle East oil supplies. Gas prices have also experienced upward pressure, with UK gas prices rising by nearly 1% and European natural gas futures climbing by 2%.

Qatar, a key player in the liquefied natural gas market, has declared force majeure on its gas exports after suspending activities at its facilities. This decision indicates serious disruptions in supply chains and could have long-term implications for gas markets, particularly in Europe, which depends heavily on Qatari gas. Analysts suggest that returning to normal production levels could take significant time, further exacerbating supply issues in the energy market as the region continues to face unrest.