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Story summary
- A fire at the Shahran oil depot in Tehran, Iran, on March 8, 2026, followed U.S. and Israeli attacks and rendered fuel tankers unusable.
- The incident triggered a broad Asian market sell-off as South Korea's Kospi fell over 8% and activated a second circuit breaker in four sessions.
- Oil prices rose above $110, Brent futures up 23.38% to $114.30.
- Japan's Nikkei 225 fell 6.48% and Australia's S&P/ASX 200 declined 4.15%.
