The Japanese yen depreciated past 158.7 per dollar on Monday, hitting six-week lows as oil topped $100 a barrel amid concerns that a prolonged Middle East conflict could disrupt global energy supplies, weighing on oil-dependent economies. The US-Israeli war with Iran entered its second week with no resolution in sight, while major oil producers in the Middle East have been curbing production as shipments through the Strait of Hormuz remain halted. Japan relies on the Middle East for around 95% of its oil supplies with about 70% coming via the Strait of Hormuz, making the country particularly vulnerable to oil shocks. The government is considering tapping part of its national oil reserves as the Iran crisis continues. The yen was further pressured by a strengthening dollar, which benefited from its safe-haven appeal and revised expectations for Federal Reserve policy.