Asian equity markets stalled on Monday as investors weighed climbing oil prices against a global equity rally that hit fresh records just last week. Japan’s Nikkei edged 0.4% higher in early trading before pulling back to Friday’s close, while the MSCI Asia-Pacific ex-Japan index and Australian shares were flat. Brent crude held around $89 a barrel after rising 6% last week, with Middle East oil flows running 10% to 15% below normal. Peace talks remain frozen and Strait of Hormuz traffic stays paralyzed, keeping markets on edge, with AMP’s economists expecting oil to stay in a $70-$100 range.
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