Asian stocks opened broadly higher on Monday, even as renewed military action between the US and Iran kept investors focused on the risk of further disruption in the Middle East.
South Korea's KOSPI jumped 3.18%, while Japan's Nikkei 225 gained 2.03%. Australia's S&P/ASX 200 rose 0.36%. The Hang Seng and Shanghai Composite were little changed.
The gains came after US technology shares advanced on Friday, helping lift sentiment across Asian markets.
Oil prices, meanwhile, moved higher as the latest US-Iran confrontation heightened concerns about energy supplies and shipping through the Strait of Hormuz.
Brent crude climbed as much as 0.8% to around $97 a barrel before paring some of the advance. West Texas Intermediate traded near $92 a barrel. European natural gas prices also rose as much as 4.2% in thin trading.
The US said it had struck three Iranian oil tankers over the weekend, destroying one, after accusing Iran of launching ballistic missile attacks against US Navy warships.
Iran subsequently said it would establish a new restricted zone outside the Strait of Hormuz. According to Press TV, the proposed area would begin at the US Navy blockade line and extend into parts of the Persian Gulf.
Iran also said it had targeted three tankers in response to the US strikes, although the claim had not been independently corroborated.
The escalation has added to uncertainty around the future of energy shipments through the strategic waterway, with investors watching for signs that the conflict could lead to a prolonged disruption in global oil flows.
US Secretary of Energy Chris Wright also cautioned that a nuclear agreement with Iran may not be reached soon. Speaking on ABC News' This Week, Wright said there might not be an agreement and that a deal could instead be left for a future administration in Iran.
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