Oil prices soar and shares drop after Trump threatens more Iran strikes

5 hours ago

Oil prices surged and stock markets fell globally after President Trump threatened increased strikes on Iran without providing a clear end to the war.
The Iran war has severely disrupted global oil and gas supplies, especially through the Strait of Hormuz, where shipping has mostly halted due to threats.
Trump urged other nations to intervene to free up oil shipments, removing hopes for a swift resolution to energy supply disruptions.
Brent crude briefly exceeded $109 a barrel, and West Texas Intermediate traded above $110, reflecting market pessimism about an imminent ceasefire.
Experts warn that reopening the Strait of Hormuz and repairing damaged energy infrastructure could take months to years, with additional costs for shipping.
Major stock indexes in the U.S., Europe, and Asia declined, with Asian markets being particularly vulnerable due to heavy reliance on Middle Eastern energy.

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