Economy / Markets
Asia shares rebound on US jobs beat but Brent pushes toward $97 as Iran declares restricted zone outside Strait of Hormuz
Asian equities rallied on Monday as Friday's 162,000 August payrolls print was read as supportive for global growth, while oil extended last week's 8-10% rally after US forces struck three Iranian tankers and Iran's Revolutionary Guards fired ballistic missiles at two US Navy ships. Brent crude added 0.54% to USD 96.80 a barrel and US West Texas Intermediate gained 0.72% to USD 92.14, according to Reuters and HDFC Sky. Kpler data shows average daily tanker traffic through the Strait of Hormuz at its lowest level since May.