[SYDNEY] Asian share markets were in a more sober mood on Thursday as cracks quickly began to appear in the fragile Gulf ceasefire, nudging oil prices back up and reminding investors the inflationary fallout will last for a long time yet.

There was scant sign that the Strait of Hormuz was open in any meaningful way, with Iran flexing its control over the vital oil artery and demanding tolls for safe passage.

“You have a fifth of the world’s oil supply moving through a corridor that is still effectively under the influence of one of the parties to the conflict,” said Nigel Green, CEO at deVere Group. “That’s not stability.”

https://www.businesstimes.com.sg/companies-markets/capital-markets-currencies/asian-stocks-turn-cautious-reality-intrudes-gulf