Asian stocks fall, oil rises as Trump escalates threats on Iran
Asian markets declined in early Tuesday trading while oil prices climbed as tensions in the Middle East intensified following new threats from US President Donald Trump against Iran.
South Korea’s Kospi index dropped more than four percent, and Japan’s Nikkei also fell before recovering slightly. Meanwhile, oil prices continued their upward trend, with US benchmark West Texas Intermediate rising over 3 percent to above $106 a barrel, and Brent crude increasing to nearly $110.
The market reaction came after Trump warned that the United States could target Iran’s key oil export facility at Kharg Island, along with power and desalination plants, if Tehran does not agree to a deal. He also reiterated demands to reopen the Strait of Hormuz, a critical global shipping route.
Despite the aggressive stance, Trump indicated that diplomatic efforts were still ongoing. However, analysts note that any attack on civilian infrastructure could violate international humanitarian law and risk further escalation of the conflict.
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