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Trump's warning about Iran / Oil prices rise and markets fall

2026-04-02 17:59:00, Kosova & Bota CNA

Trump's warning about Iran / Oil prices rise and markets fall

Oil prices rose sharply and stocks fell after Donald Trump vowed in a televised speech to hit Iran "extremely hard" in the coming weeks, dashing hopes for a near end to the Middle East conflict.

Brent crude prices rose 8% on Thursday morning to pass $109 (£82) a barrel, reversing Wednesday's decline, when hopes of an easing of tensions in the war with Iran pushed the international price below $100 a barrel at one point.

The cost of U.S.-produced oil also rose, with a barrel of West Texas Intermediate crude — crude oil drilled and refined in the U.S. — rising 11% to $111.60 a barrel, above $110 for the first time since March 9. Shares in Asia fell, with Japan's Nikkei index down 2.4%, while China's CSI 300 index fell 1.36%. South Korea's Kospi, which has been particularly sensitive to the crisis, fell 4.8%.

In Europe, Germany's Dax stock index fell 2%, while France's Cac 40 fell 1.15% and Italy's FTSE Mib fell 1.45%. London's FTSE 100 fell about 0.5% in early trading, despite listed fossil fuel companies BP and Shell rising about 4.5% and 3% respectively.

US stocks fell in early trade in New York, with the Dow Jones industrial average down 624 points, or 1.3%, at the open, falling to 45,941. Government borrowing costs were also rising, with the yield - or the interest rate that issuers must pay - on 10-year UK bonds rising four basis points to 4.886%. The yield on two-year UK bonds rose six basis points to 4.36%, reflecting growing fears of a rise in inflation from higher energy costs./ CNA, translated by The Guardian





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