International tensions between the US and Iran have once again escalated, leading to growing global concern. Following a statement by US President Donald Trump, global crude oil prices rose sharply. The price of Brent Crude exceeded the $96 mark, while stock markets experienced a decline, starting from Japan and South Korea to Hong Kong.
Donald Trump stated on Wednesday that the US has almost complete control over the strategically important Strait of Hormuz. Furthermore, he noted that the Iranian economy is heading towards collapse. Trump also refuted media reports claiming that the US is trying to force Iran into negotiations.
In his post on Truth Social, Trump wrote: 'I am not trying to bring Iran to the negotiating table, as reported by ABC Fake News. I do not care at all if they sign some useless deal. I think our current situation is much better because we have almost complete control over Hormuz, and their economy is completely destroyed.'
The US president's statement on control of the Strait of Hormuz had a direct impact on the international oil market. At the time of publication, the price of Brent Crude rose above $96 per barrel, and the cost of WTI Crude reached about $92 per barrel. Additionally, the price of Murban Crude showed a rapid increase, exceeding $104 per barrel.
The rise in crude oil prices, triggered by Trump's statement, increases the risk of inflation amid a potential military conflict. This was reflected in global stock exchanges. A decline was observed in Asian markets: the Nikkei index in Japan traded with a drop of more than 1800 points, and the Hang Seng index in Hong Kong fell by approximately 300 points. The KOSPI index in South Korea showed a significant drop—about 4 percent.
Even in the Indian stock market, where Gift Nifty is a key indicator for the Sensex and Nifty indices, there was a decline, indicating a possible continuation of the slump in the Indian stock market on Wednesday.