Global markets tumbled while oil prices surged after Donald Trump warned that the United States would hit Iran extremely hard in a primetime televised address from the White House.
In the address, Trump urged US allies to build up the courage to secure shipping routes through the strategically vital Strait of Hormuz, insisting that Washington does not depend on the passage for its energy needs.
The speech, however, largely echoed his recent rhetoric and failed to provide clarity on key issues, leaving analysts and observers with several unanswered questions about Washington’s next move.
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Financial markets reacted negatively to the heightened tensions. Oil prices spiked sharply to $106 per barrel, while stock markets across Asia declined, reflecting investor anxiety in a region heavily dependent on Middle Eastern crude supplies.
Meanwhile, Iran pushed back against Trump’s assertions, with its foreign ministry dismissing claims that Tehran had sought a ceasefire as false and baseless.
The developments underscore growing geopolitical uncertainty, with investors closely watching for any escalation that could disrupt global energy supplies and further rattle markets.