Global stock markets have significantly declined, with oil prices surging above $100 a barrel due to escalating fears of supply disruptions through the Strait of Hormuz amid the ongoing US-Israeli conflict with Iran.

• Brent crude jumped to $114.74 and Nymex light sweet to $114.78 in early Asian trading.
• Major Asia-Pacific stock indexes, including Japan's Nikkei 225 (down over 7%) and Hong Kong's Hang Seng (down over 3%), experienced sharp falls.
• The Strait of Hormuz, through which about a fifth of the world's oil supply passes, has seen traffic all but halt since the conflict began a week ago.