- Stocks soar, oil retreats -

Oil prices fell after Iranian President Masoud Pezeshkian said his country had the "necessary will" to end the war with Israel and the United States, but was seeking guarantees that the conflict would not be repeated.

Japanese and South Korean stock indexes soared in early trade on Wednesday after US President Donald Trump indicated that the war with Iran may end in around two weeks.

Wall Street stocks had already rocketed higher on Tuesday, with the blue-chip Dow index finishing up 2.5 percent, and the tech-heavy Nasdaq climbing 3.8 percent.

Crude was still trading well above $100 a barrel, however.

- Desalination plant hit -

Strikes have knocked out a desalination plant on Qeshm Island in the Strait of Hormuz, Iranian media reported, without saying when the attack took place.

"One of the desalination plants on Qeshm Island was targeted... and is now completely out of service, as it is not possible to repair it in the short term," the ISNA news agency reported, quoting health ministry official Mohsen Farhadi.

- China ships transit -

China's foreign ministry thanked "the relevant parties" on Tuesday for helping three Chinese ships to transit out of the Strait of Hormuz.

Two container vessels belonging to shipping giant Cosco passed through the strait on Monday, tracking data showed. Beijing gave no detail on the third ship.

- Eurozone inflation -

Eurozone inflation rose to 2.5 percent in March, the highest level since January 2025, owing to surging energy prices caused by the Middle East war.

- Asia war woes -

Asia faces the gravest fallout from the war and is confronting a major energy crisis, the head of global maritime analytics firm Kpler told AFP.

Jean Maynier said the continent did not have enough energy resources to cover the gap, adding: "It will not be enough in China, it will not be enough to cover in big countries like the Philippines or Indonesia. So it's a real energy crisis."

- Indonesia rations fuel -

Indonesia announced fuel rationing and mandated work from home for civil servants as it seeks to conserve energy stocks amid global price hikes because of the Middle East war.

It earlier said it would not increase fuel prices despite rising budget pressures from the war.

- Kuwait tanker blaze -

An Iranian attack sparked a fire on a Kuwaiti oil tanker at Dubai Port, state media reported on Tuesday. There were no injuries, according to the report, and Dubai authorities later said firefighters had extinguished the blaze.

Maritime intelligence agency Vanguard and ship tracker MarineTraffic identified the ship as the Al Salmi, a 332-metre (1090-feet) long Kuwait-flagged crude tanker.

- Ethiopia rations fuel -

Ethiopia will prioritise vehicles transporting essential goods and those in the public transport sector at fuel stations as the country grapples with shortages caused by the Middle East war, authorities said Tuesday.

- Sri Lanka hikes electricity -

Sri Lanka announced a nearly 40 percent increase in electricity prices from Wednesday as it battles an energy shortage caused by the war in the Middle East.

Sri Lanka has raised fuel prices three times this month, increasing them by more than a third, and has imposed a four-day working week in a bid to save energy.

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