Crude prices surged to nearly six-month highs on Monday after the Trump administration announced that all oil buyers would need to cease imports from Iran by early May.
Shares in Asia were set to see opening gains on Tuesday as the U.S. earnings season kicks into high gear.
Australia's ASX 200, which was closed on Monday for a holiday, was also set to see opening gains. SPI futures were at 6,270.0, as compared to the ASX 200's last close at 6,259.80. More than 140 S&P 500 companies are scheduled to release their quarterly results this week, including Coca Cola, Procter & Gamble, United Technologies, Verizon, Twitter, Lockheed Martin and eBay. Facebook, Microsoft and Tesla Motors are also set to report later this week.
Oil prices surged to nearly six-month highs on Monday after the Trump administration announced that all oil buyers would need to cease imports from Iran by early May.
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