Asian stock markets closed mostly lower on Thursday as oil prices rose two percent, driven by renewed tensions between the United States and Iran. The increase in oil prices has raised concerns about inflation across the region. Investors are reacting to the heightened geopolitical risk, which has led to a cautious approach in the markets. The situation has also impacted Asian economies, which are heavily reliant on energy imports. Analysts suggest that the ongoing conflict could lead to longer-term economic challenges. The rise in oil prices is seen as a key factor in the current market volatility.