TOKYO, March 30 (V7N) –  Japan’s Nikkei index plunged more than five percent in early trade Monday, while South Korea’s Kospi dropped over four percent, as oil prices climbed again with no end in sight to the war in the Middle East.  

West Texas Intermediate (WTI), the main US benchmark, rose 3.23 percent to $102.86 a barrel around 0015 GMT, once again crossing the $100 mark. Brent crude climbed 2.95 percent to $115.89.  

The Nikkei fell 5.16 percent and the Kospi 4.41 percent before both indexes recovered slightly.  

The turmoil comes as Iran’s parliament speaker Mohammad Bagher Ghalibaf accused the United States of plotting a ground offensive despite publicly calling for negotiations. His comments followed the arrival of a US warship carrying around 3,500 personnel in the Middle East.  

The war, now in its second month, began with joint US and Israeli aerial bombardments of Iran. Tehran has since retaliated with missile and drone strikes targeting Israel, Gulf states, and the Strait of Hormuz shipping lane.  

The escalation has rattled energy markets, driving oil prices higher and raising fears of a global economic shock.  

END/WD/RH