Asian stock markets were mixed Monday after a decline in oil prices last week helped U.S. stocks end their first winning week in three.

Japan’s benchmark Nikkei 225 fell 0.7% to 65,877.62.

Australia’s S&P/ASX 200 gained 0.2% to 8,679.70, while South Korea’s Kospi dropped 2.7% to 6,889.74. Hong Kong’s Hang Seng rose 0.6% to 24,654.86, while the Shanghai Composite declined 1.7% to 3,823.62.

In energy trading, U.S. benchmark crude rose 1.98% to $94.24 a barrel, while Brent crude, the international benchmark, gained 2.5% to $106.93 a barrel.

Brent crude briefly fell to around $97 a barrel last week. Oil prices have remained volatile amid uncertainty over when the war with Iran will end and allow oil supplies from the Middle East to flow more freely, including through the Strait of Hormuz.

On Wall Street, the S&P 500 gained 0.5%, ending a three-day decline marked by sharp swings as bond yields rose. The Dow Jones Industrial Average climbed 478 points, or 0.9%, while the Nasdaq composite gained 0.5%.

Rising expectations for high inflation in the United States weighed on markets last week. Higher inflation could put further pressure on the economy by increasing living costs and potentially triggering further price increases.

The yield on the 10-year Treasury note briefly rose to 5.22% Friday from 5.18% late Thursday, approaching its highest level since 2007. Higher yields can slow economic activity by making borrowing more expensive and can also put pressure on stocks and other investments.

The 10-year yield had risen from 3.97% at the start of the war with Iran. However, it eased later Friday as oil prices fell, dropping to 5.15%. The decline in yields helped U.S. stocks recover.

Overall, the S&P 500 rose 39.28 points to 7,743.41. The Dow gained 478.64 points to 51,828.62, while the Nasdaq composite advanced 129.34 points to 27,068.72.

In Asian currency trading Monday, the U.S. dollar rose to 157.53 Japanese yen from 157.19 yen. The euro fell to $1.1380 from $1.1393.