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Stocks Drop, Oil Rises After Trump Iran Threat
Oil prices reached their highest since June amid rising geopolitical risks after Trump set a 10-15 day deadline for Iran, causing Asian stocks to fall, analysts said.
- Markets reacted Friday as most Asia equities fell and oil prices rose after Donald Trump hinted at possible military strikes on Iran if it did not make a "meaningful deal" in nuclear talks.
- US officials paired readiness with stalled nuclear talks as President Donald Trump warned Tehran at the 'Board of Peace' that 'bad things happen' without a meaningful deal.
- Market internals revealed that Japan's Nikkei dropped one per cent and Hong Kong's Hang Seng slipped 0.3 percent, while private equity stocks plunged after Blue Owl sold assets, weighing on Apollo and Blackstone.
- Market strategists noted that Benchmark Brent futures touched six-and-a-half-month peaks above $72 as Trump's 10 to 15 day Iran deadline heightened risk, and the dollar headed for its largest weekly rise in four months at $1.1762, said Spectra Markets' Brent Donnelly.
- Analysts stressed that a strike is not certain and talks continue, while Israeli Prime Minister Benjamin Netanyahu warned of a response "they cannot even imagine," amid Omani-mediated Geneva talks.
32 Articles
32 Articles
The US deployed aircraft carriers and fighter jets to the Middle East, sending oil prices above $71 a barrel. Stock markets fell, and gold hovered near record highs. US President Donald Trump gave Iran a 10-day deadline to reach a nuclear deal.
The market has increased the risk of US intervention in Iran, due to a more offensive tone between Washington and Tehran.
Friday's oil prices rose amid rising fears of a conflict between the US and Iran, after Washington threatened Tehran that it would suffer if it did not conclude an agreement on its nuclear activities within days. Brent's future contracts increased 21 cents, or 0.3 percent, to $71.87, while West Texas's US broker's ore increased 23 cents, or 0.4 percent, to $66.66.
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