Oil Surges, Asian Stocks Fall After Trump Signals Continued Iran Strikes

02/04/2026

Oil Surges, Asian Stocks Fall After Trump Signals Continued Iran Strikes

Global markets reacted sharply on Thursday after Donald Trump said the United States would continue heavy military strikes against Iran, while suggesting operations could conclude soon.

Oil prices jumped more than 4%, with Brent crude rising 5% to $106.22 per barrel, while US benchmark crude gained 4.2% to $104.36.

Asian stock markets, however, moved lower in early trading. Japan’s Nikkei 225 fell 1.4% to 53,004.81, while South Korea’s Kospi dropped 3.4% to 5,292.36. Hong Kong’s Hang Seng Index declined 0.8% to 25,082.59.

US futures were also down more than 0.7%, reflecting broader investor concerns over escalating geopolitical tensions and their impact on global energy markets.