On the New York Mercantile Exchange, the benchmark price for U.S. West Texas Intermediate (WTI) crude oil rose by 9.7%, finishing at $95.73 per barrel on the 12th, reflecting concerns over escalating conflicts in the Middle East. The surge in oil prices prompted a significant decline in the Tokyo stock market, where the Nikkei index plummeted, briefly trading below 53,200 yen, marking a loss of over 1,100 yen from the previous day’s closing price.

The rise in WTI prices was influenced by remarks made by Iran's new Supreme Leader, Mojtaba Khamenei, who indicated that the blockade of the crucial Strait of Hormuz for energy transportation would continue amid ongoing tensions. This statement sparked fears about further instability, leading to an increase in oil prices as traders reacted to the potential for supply disruptions in a region critical to global oil transport.

As the markets reacted to the volatile geopolitical landscape, the exchange rate fluctuated significantly, with the dollar reaching approximately 159.40 yen. These developments underscore the interconnectedness of geopolitical events and market dynamics, as investors adjust their strategies in response to potential risks related to oil supply and economic stability globally.