Asian shares are mixed and US futures slip as Brent hovers above $100 a barrel

Asian shares are mixed and US futures slip as Brent hovers above $100 a barrel 1 of 5 | A person walks near a stock price monitor showing Nikkei index at a security company Tuesday, March 17, 2026, in Tokyo. (AP Photo/Eugene Hoshiko) 2 of 5 | A person looks at a stock price monitor showing New York Dow and Nikkei indexes also US dollar Japanese yen exchange rate at a security company Tuesday, March 17, 2026, in Tokyo. (AP Photo/Eugene Hoshiko) 3 of 5 | A person stands near a stock price monitor showing Nikkei 225 index at a security company Tuesday, March 17, 2026, in Tokyo. (AP Photo/Eugene Hoshiko) 4 of 5 | People stand in front of a stock price monitor showing Nikkei index at a security company Tuesday, March 17, 2026, in Tokyo. (AP Photo/Eugene Hoshiko) 5 of 5 | Screens display financial information on the floor at the New York Stock Exchange in New York, Tuesday, March 10, 2026. (AP Photo/Seth Wenig) 1 of 5 A person walks near a stock price monitor showing Nikkei index at a security company Tuesday, March 17, 2026, in Tokyo. (AP Photo/Eugene Hoshiko) Add AP News on Google Add AP News as your preferred source to see more of our stories on Google. 2 of 5 A person looks at a stock price monitor showing New York Dow and Nikkei indexes also US dollar Japanese yen exchange rate at a security company Tuesday, March 17, 2026, in Tokyo. (AP Photo/Eugene Hoshiko) Add AP News on Google Add AP News as your preferred source to see more of our stories on Google. 3 of 5 A person stands near a stock price monitor showing Nikkei 225 index at a security company Tuesday, March 17, 2026, in Tokyo. (AP Photo/Eugene Hoshiko) Add AP News on Google Add AP News as your preferred source to see more of our stories on Google. 4 of 5 People stand in front of a stock price monitor showing Nikkei index at a security company Tuesday, March 17, 2026, in Tokyo. (AP Photo/Eugene Hoshiko) Add AP News on Google Add AP News as your preferred source to see more of our stories on Google. 5 of 5 Screens display financial information on the floor at the New York Stock Exchange in New York, Tuesday, March 10, 2026. (AP Photo/Seth Wenig) Add AP News on Google Add AP News as your preferred source to see more of our stories on Google. Updated [hour]:[minute] [AMPM] [timezone], [monthFull] [day], [year] BANGKOK (AP) — Shares wavered in Asia on Tuesday after a drop in oil prices helped send the U.S. stock market to its best day since the war in Iran began.The reprieve in prices for crude was short-lived, with Brent Crude climbing nearly 4% early Tuesday to $104.21 a barrel. U.S. benchmark crude also climbed, to $97.61 per barrel after dipping to about $93 on Monday.U.S. futures fell back, with the contracts for the S&P 500 and the Dow Jones Industrial Average down 0.5%. In Asian trading, Tokyo’s Nikkei 225 gave up early gains to slip 0.2% to 53,630.16 and the Kospi in South Korea jumped 1.6% to 5,639.77.Hong Kong’s Hang Seng added 0.2% to 25,892.88, while the Shanghai Composite index dropped 0.6% to 4,058.31. In Australia, the S&P/ASX 200 gained 0.4% to 8,614.30 after the central bank hiked its benchmark interest rate to 4.1%. Citing higher fuel prices, the Reserve Bank of Australia on Tuesday lifted the cash rate from 3.85% which it set at its Feb. 3 meeting in response to surging inflation. That rise was Australia’s first since November 2023. Taiwan’s Taiex rose 1.5% and India’s Sensex shed 0.1%. On Monday, the S&P 500 climbed 1% to 6,698.38 for its biggest gain in five weeks. The Dow Jones Industrial Average added 0.8% to 46,946.41. The Nasdaq composite jumped 1.2% to 22,374.18.The driver for markets has been oil prices, which have spiked from roughly $70 before the United States and Israel began their attacks on Iran. In response, Iran has nearly halted traffic through the narrow Strait of Hormuz, where a fifth of the world’s oil typically sails from the Persian Gulf to customers worldwide. That has oil producers cutting production because their crude has nowhere to go. The worry in financial markets is that if the strait remains closed for a long time, it could keep enough oil off the market to drive inflation up to a debilitating level for the global economy. “The panic is still there, just dialled down a notch as crude slipped off the boil. Brent easing back toward $100 flipped the tape from bunker mentality to opportunistic risk-taking in a heartbeat,” Stephen Innes of SPI Asset Management said in a commentary.President Donald Trump over the weekend demanded that other countries hurt by the closure of the Strait of Hormuz “take care of that passage” and said his country “will help - A LOT!”The U.S. and Israel have kept pummeling what they describe as military targets in Iran’s capital, and Israel stepped up its campaign against Iran-backed militants in Lebanon. More than 1 million people have been displaced in Lebanon — roughly 20% of the nation’s population — as U.N. peacekeepers say Israel is massing ground troops along the border. Uncertainty over the war’s scope and duration have roiled financial markets since the war began just over two weeks ago, though markets have a track record of bouncing back relatively quickly from military conflicts. Many professional investors are expecting that to be the case again, if oil prices don’t go too high for too long. That has helped keep U.S. stock prices near their record levels.