Asia shares fall, oil set for weekly gains on Mideast risks

Asian stocks retreated on Friday while oil prices headed for their sharpest weekly gain in more than a year, as escalating tensions in the Middle East kept markets on edge ahead of a U.S. jobs report later in the day. U.S. President Joe Biden said on Thursday that the U.S. is discussing strikes on Iran’s oil facilities as retaliation for Tehran’s missile attack on Israel, while Israel’s military hit Beirut with new air strikes in its battle against Lebanese armed group Hezbollah. His comments sparked a surge in oil prices, which had already been on the rise this week following the widening conflict in the Middle East.Read More