Iran, oil rises 4% above 105 dollars after Trump’s remarks

Hong Kong, Apr. 2 (LaPresse) – Oil rose by over 4% and Asian stock markets suffered losses after US President Donald Trump stated, in his first address to the nation since the start of the war with Iran, that the United States will continue to strike the country hard. Trump also said in his speech that the United States will “finish the job” in Iran soon, as “the main strategic objectives are nearing completion” and military operations could conclude shortly. Trump did not mention the imminent deadline he had set for Iran to reopen the Strait of Hormuz, the crucial waterway for global oil and gas transport, after previously threatening Iran with US attacks on its energy infrastructure if the strait were not reopened. Tokyo’s Nikkei 225 lost 1.9% to 52,731.94 in early Asian trading. South Korea’s Kospi fell 3.6% to 5,281.22. Hong Kong’s Hang Seng dropped 0.9% to 25,056.42, while the Shanghai Composite index lost 0.5% to 3,928.30. Australia’s S&P/ASX 200 index fell 0.6%, while Taiwan’s Taiex recorded a decline of 1.1%. US futures fell by over 0.9%. Oil prices rose sharply after Trump’s statements. Brent, the international benchmark, jumped 4.9% to 106.16 dollars per barrel. US benchmark crude rose 4% to 104.15 dollars per barrel. Gold and silver prices declined. Gold fell 2% to 4,718.70 dollars per ounce, while silver dropped 4.9% to 72.39 dollars per ounce.