Oil prices rose more than 1% on Monday amid heightened concerns over supply disruptions. The move followed U.S. strikes on two Iranian rocket launchers on Larak Island.
The dollar struggled as markets weighed the impact of Iran sanctions and potential Treasury buybacks. Uncertainty over these factors kept the currency rangebound.
The Thai stock market ended a two-day winning streak on Monday, with the SET index just above 1,600 points. It is expected to remain rangebound on Tuesday.
Japanese stocks traded notably lower, extending losses from previous sessions. The Nikkei 225 fell below 65,050, with weakness across most sectors led by autos.
Australian stocks traded modestly higher, extending gains from the previous session. The S&P/ASX 200 moved above 9,100, supported by gold miners and financials.