Risk of oil supply disruptions

Iran's atomic organisation. The worsening Middle East conflict raises the risk of disruptions to oil supplies from key oil-producing nations in the region, said Ms Priyanka Sachdeva, senior market analyst at Phillip Nova, an affiliate of Singapore's investment manager PhillipCapital Group.

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"The risk appetite of oil investors will likely be tested today with immense volatility and uncertainty," she said.

Most of the Middle East oil flows from the Persian Gulf through the Strait of Hormuz. The strait is one of the world's most important oil transit choke points.

Any material shipping disruptions resulting from a blockage of the Hormuz could have profound consequences for the global economy. But Asia's largest economies would be the most vulnerable.