Trump suggests further military strikes against Iran, oil prices rise, Asian stock markets fall.

Oil prices rose during the Asian session on Thursday, as US President Trump hinted at further military strikes against Iran, reigniting concerns about disruptions in Middle East supply. These comments weakened the preference for risk assets, dragging down Asian stock markets. Trump said in his speech during the golden hour that the US "will be hitting them very hard in the next two to three weeks. We want to take them back to the Stone Age where they belong." Trump touted this war as an investment in the future of the American people, and hinted that US military actions could end within a month. Trump also said that allies relying on Middle Eastern oil passing through the Strait of Hormuz should "go through the strait, take it directly, protect it, and use it for themselves," as Iran has effectively closed the strait. WTI crude oil futures for the near month rose by 3.6% to $103.80 per barrel, reversing an earlier decline of 2.6%, while Brent crude oil futures for the near month rose by 4.5% to $105.71 per barrel. The Nikkei index in Japan fell by 1.4%, the KOSPI index in South Korea fell by 2.6%, and the Hang Seng Index in Hong Kong fell by 0.8%. US stock index futures also fell, with S&P 500 mini futures declining by 0.9%, Nasdaq 100 mini futures declining by 1.1%, and Dow mini futures declining by 0.8%.