Oil rises, stocks fall as Trump's Iran deadline loomsDonald Trump has warned that Iran 'could be taken out in one night'LONDON - Oil prices jumped Tuesday and stocks fell after US-Israeli strikes on the key Iranian oil export terminal of Kharg island, with investors bracing for US President Donald Trump's looming deadline for Iran to reopen the Strait of Hormuz or face devastating attacks. The three main US stock indexes opened lower, and Paris, London and Frankfurt were lower in mid-afternoon European trading. Iran has effectively blocked the waterway since the start of the war on February 28, driving up global oil and gas prices, as around one‑fifth of the world's oil normally flows through the strait. On Tuesday, the Philippines said its inflation jumped to a forecast-topping 4.1 percent in March, the highest level in nearly two years. US figures last week showed that growth in the country's services activity cooled last month as companies monitored the higher energy prices and the prospect of supply chain disruptions.

Source: Bangkok Post April 07, 2026 20:11 UTC