Asian Markets Rise as Oil Prices Retreat, Awaiting U.S. Inflation Data and Israel-Gaza Conflict Developments

Asian shares climbed after Wall Street rose on potentially encouraging news about interest rates dragging markets lower.

Oil prices fell back after surging Monday following Israel's war declaration on Hamas over its Gaza attack.

Crude oil prices were volatile, jumping from under $70 per barrel this summer to over $90 last week before pulling back.

Reports this week on U.S. inflation could provide hints on interest rates ahead of the Fed's next rate decision on November 1.

The Israeli shekel tumbled after the violence began, prompting the country's central bank to intervene.