Oil Prices Stay Above $108 as Asian Shares Decline, Tracking Wall Street Losses Oil prices have remained above $108 a barrel, with Brent crude at its highest level since May.
This surge has sent shockwaves through global markets, causing Asian shares to plummet in tandem with the losses on Wall Street. Japan's Nikkei 225 took a 2. 8% hit, while South Korea's Kospi lost 2. 3%.
Major companies such as Samsung Electronics and memory chipmaker SK Hynix suffered significant declines, underscoring industry wide anxiety.