New Delhi, March 3 -- The US-Iran conflict has now entered its fourth day, and the world is watching closely, not only because of the deeper military confrontation the entire Middle East has plunged into, but also because of the shockwaves it has sent to the global energy markets.

While Iran's decision to close the Strait of Hormuz is expected to disrupt global energy markets, Asian countries are likely to bear the brunt of the impact, CNBC reported.

The development came on Monday, days after the United States and Israel launched strikes on Iran, targeting the Islamic Republic's military and naval forces and killing some of the country's top officials, including the Supreme Leader Ayatollah Ali Khamenei. A senior official of the Islamic...