Global Markets Volatile as Trump Threatens Continued Iran Strikes
Key Takeaways
- Oil prices surged to about $109 Brent and $111 WTI amid threats to continue strikes.
- Global equities fell as investors priced in escalation risk across the US, Europe, and Asia.
- Trump warned of continued attacks with no timeline to end the Iran war.
Trump Vows Two to Three More Weeks
Trump declared the US was prepared to continue extremely hard strikes over the next two to three weeks.
“Oil prices rose more than $5 as President Donald Trump said the United States would continue attacks on Iran without committing to a specific timeline to end the war, fanning investor fears about sustained disruptions to supply”
Brent crude surged past $109 per barrel, while the S&P 500 fluctuated before closing up slightly.
Trump urged countries reliant on the Strait of Hormuz to just take it and reopen the waterway.
Market Reactions and Economic Pain
Oil prices experienced dramatic swings, with Brent crude falling then bouncing back above $100.
Asian stocks saw significant gains, but the rally proved short-lived as Brent jumped nearly 7% the next day.
Gasoline prices in the US climbed above $4 per gallon for the first time since 2022.
Strait of Hormuz: Diplomatic Maneuvers
The UN Security Council prepared to vote on a Bahraini proposal to secure the Strait of Hormuz.
“What to know about the Iran war today: - President Trump warned late Thursday the U”
Iran and Oman reportedly began negotiating a bilateral protocol to monitor transit.
US intelligence found Iran maintained significant missile capabilities despite heavy bombardment.
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