Asian markets began the week on a firmer footing after Brent crude slipped 2% on hopes that Saudi Arabia could restore oil flows through its East-West pipeline following a Houthi attack on the Saudi capital. Conflicting reports continued over supply through the Strait of Hormuz, with Admiral Brad Cooper, head of US Central Command, saying crude oil, cargo and liquefied natural gas volumes over the past two weeks were higher than at any point in the past six months. Shipping data showed only 12 commodity vessels crossed the strait over the weekend, compared with 35 the previous weekend, although Kpler data indicated Saudi exports had recovered to just over 4 million barrels per day in September from 2.4 million bpd in August, their lowest level since at least 2013. JPMorgan analysts said satellite data showed Saudi oil moving through the strait averaged 2.9 million bpd over the past six days, up from 700,000 bpd in August. Most share markets rose, with South Korean technology stocks gaining more than 1%, Nasdaq futures up 0.6% and S&P 500 futures 0.4%. European futures edged higher despite news that Chancellor Friedrich Merz’s mainstream conservative party recorded its worst election results since 1949. The euro held at $1.1484, while the dollar slipped below 157 yen amid concern that the Bank of Japan could intervene in support of the currency. US President Donald Trump’s attendance at the United Nations General Assembly and a planned Thursday meeting with Chinese President Xi Jinping add to a busy diplomatic week, while US Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng concluded New York talks with a US proposal for a new AI safety notification mechanism.