Oil Prices Surge, World Shares Fall Amid Reports of Tanker Damage in Strait of Hormuz

World shares and U.S. futures declined on Thursday, with oil prices jumping more than 2%, following reports from Iran's state television alleging that seven oil tankers were damaged in the Strait of Hormuz. If confirmed, this incident would represent the largest number of vessels damaged in the waterway in a single day since the start of the Iran war on February 28.

Brent crude, the international oil benchmark, rose 3.2% to $112.27 per barrel. U.S. benchmark crude increased by 2.8% to $99.80 per barrel. These price increases reflect ongoing uncertainty about the duration of the conflict and its impact on the global energy sector.

European markets saw declines, with Germany's DAX index shedding 1.1% and the CAC 40 in Paris falling 1.3%. Britain's FTSE 100 was down 0.7%. In early trading, U.S. futures also indicated a lower opening, with the S&P 500 futures down 1% and the Dow Jones Industrial Average futures 0.7% lower.

Asian markets experienced significant losses. Tokyo's Nikkei 225 dropped 2.7%, heavily impacted by the sell-off in major technology companies like SoftBank Group, which fell 6.9%. Computer chip equipment maker Tokyo Electron lost 7%, and testing equipment maker Advantest declined 6%. South Korea's Kospi index plunged 3.5%, led by a 4% drop in Samsung Electronics and a 5.5% decrease for SK Hynix.

AI-related stocks, which have been a focal point in recent market activity, faced pressure amid concerns that the rising cost of borrowing money could slow down the construction of data centers. Hong Kong's Hang Seng index shed 3%, and the Shanghai Composite index gave up 1.5%. Taiwan's Taiex lost 1.8%, and Australia's S&P/ASX 200 declined 0.4%.

This downturn follows a positive performance on Wednesday, when the U.S. stock market rose, boosted by strong profit reports from companies including SpaceX, Capital One Financial, and Winnebago Industries. SpaceX, in particular, saw its stock climb 7.8% after exceeding profit expectations for the summer quarter. Elon Musk, leading SpaceX, also noted the company was considering a potential merger with Tesla, his electric-vehicle company, which contributed to a 3.4% rise in Tesla's stock.

Despite positive earnings from some companies, broader market sentiment is influenced by high inflation, rising interest rates, and other economic challenges. Even Netflix, which reported stronger-than-expected profits, saw its stock fall 5.3% as investors focused on potential slowing momentum.

In currency markets, the U.S. dollar weakened against the Japanese yen, falling to 157.22 yen from 158.14 yen. The euro also saw a slight decrease, trading at $1.1231 compared to $1.1233.