International oil prices surged and then quickly retreated in the short term

Subsequently, the gains in Brent and WTI prices quickly narrowed to less than 1%. During the oil price surge, US stock futures and Japanese and Korean stock markets also fell significantly, but then rebounded rapidly. The S&P 500 index futures once fell as much as 0.9% intraday, while Japan's TOPIX index once dropped 1%. The USD/JPY exchange rate also showed a surge followed by a pullback, rising as high as 159.68 at one point.