Stock markets have rebounded in Asia after days of heavy losses driven by the war in the Middle East, but oil and gas prices have continued to climb amid disruption to supplies.

South Korea’s KOSPI, which posted its biggest ever fall on Tuesday of 12%, soared almost 10% on Thursday, while Japan’s Nikkei climbed by 1.9%. MSCI’s Asia-Pacific index excluding Japan jumped by 2.7%.

Oil rose further after Iran’s Tasnim news agency reported that US oil tanker in the northern Persian Gulf had been hit by a missile launched by Iranian forces. Brent crude lifted by 3.3% to $84 a barrel.

Gas prices also pushed higher, with UK gas up almost 1%, while European natural gas futures climbed 2%.

Qatar, the Gulf’s biggest liquefied natural gas…