Oil jumps, markets waver as Trump escalates Iran warning

Oil prices surged on Tuesday while global stock markets showed mixed performance as investors reacted to fresh threats from Donald Trump over Iran and the reopening of the Strait of Hormuz.

As the Middle East conflict entered its sixth week, Trump warned that Iran’s infrastructure could face massive destruction if it failed to reopen the strategic waterway, through which about one-fifth of the world’s oil and gas flows. He said the country could be “taken out” quickly if his deadline was not met.

Tehran responded by warning it would retaliate by targeting energy facilities in the Gulf, raising fears of further disruption to already tight global oil supplies.

Oil markets reacted strongly, with West Texas Intermediate climbing above $115 per barrel and Brent crude hovering around $111. Analysts say continued disruption could push prices even higher and add pressure to the global economy.

Equity markets, however, were mixed. Asian markets such as Tokyo, Singapore, Manila, and Jakarta declined, while Shanghai, Sydney, Seoul, and Taipei posted gains. The mixed performance followed a positive session on Dow Jones Industrial Average.

Market analysts noted that investors remain cautious, balancing hopes of a ceasefire against the risk of escalation. Some suggest traders have become less reactive to strong rhetoric, expecting tensions to ease at the last moment.

Rising energy prices are already impacting economies worldwide. The Philippines reported inflation rising to 4.1 percent in March, while recent data from the United States showed slowing services activity amid higher fuel costs and supply concerns.

In corporate news, Samsung Electronics reported a sharp jump in quarterly profit driven by strong demand for artificial intelligence chips, helping lift its shares.