Energy markets were closed Friday, but the prices have been surging lately on fears that the Iran war will drag on longer than expected

Asian markets that were open for trading mostly rose Monday, as investors continued to closely watch the war in Iran and soaring oil prices.

Japan’s benchmark Nikkei 225 add almost 1.1 per cent to 53,692.42 in morning trading. South Korea’s Kospi rose 1.5 per cent to 5,460.24. Trading was closed in Australia for Easter, and in Hong Kong and Shanghai for a traditional Chinese holiday.

The Tuesday deadline U.S. president Trump has given for Iran to open the Strait of Hormuz is looming. Some analyst fear the war may escalate after that. Over the weekend Trump made more threats against Iran, even as attacks continued in the region.

The key market focus continues to be on oil prices.

Benchmark US crude rose 38 cents to $111.92 a barrel. Brent crude, the international standard, added $1.71 to $110.74 a barrel.

Energy markets were closed Friday, but the prices have been surging lately on fears that the Iran war will drag on longer than expected.

The US relies on the Persian Gulf for only a fraction of the oil it imports, but oil is a commodity and prices are set in a global market.

Some nations, like resource-poor Japan, import a large portion of their energy needs and rely heavily on access to the Strait of Hormuz.

As we kick off the first full trading week of April, the word uncertainty is paramount. Last year it was centred on the impact of Liberation Day’ tariffs, this year it’s uncertainty surrounding the ongoing Iranian War, said Jay Woods, analyst at Freedom Capital Markets in New York.

US markets were closed for Good Friday and will reopen Monday. Some markets in Europe also did not trade on Friday.

In currency trading, the US dollar inched up to 159.65 Japanese yen Monday from 159.63. The euro cost $1.1509, down from $1.1517.