On Monday evening, U.S. stock futures slipped and oil prices plunged after President Donald Trump said Iran war may be nearing its end.
US Futures Slip As Oil Prices Drop Sharply
Dow futures fell 141 points, or 0.30%, to 47,628, while S&P 500 futures and Nasdaq futures declined 0.35% each to 6,777.50 and 24,902.50, respectively.
Oil prices fell sharply, with WTI Crude April 26 futures sliding 8.75% to $86.48 per barrel, at the time of writing.
At the same time, the U.S. Dollar Index edged slightly higher, rising 0.02% to 98.748.
Trump Says Iran’s Military Is Severely Diminished
In a phone interview with CBS News on Monday, Trump said the U.S. military operation against Iran may be approaching its final stage.
“I think the war is very complete, pretty much,” Trump said.
The president added that Iran’s military capabilities had been heavily weakened during the campaign, stating the country lost much of its naval, air and communications capacity.
According to U.S. military officials cited in the report, American forces struck more than 3,000 Iranian targets during the first week of operations.
Warning Over Strait Of Hormuz And Global Oil Supply
Trump also issued a warning to Iran against attempting to disrupt shipping through the Strait of Hormuz, a critical passageway for global energy supplies.
Roughly one-fifth of the world’s oil shipments pass through the narrow waterway.
“I will not allow a terrorist regime to hold the world hostage and attempt to stop the globe’s oil supply,” Trump said in a video shared by the White House.
The president added that U.S. naval forces are positioned in the region and warned that any interference would prompt a stronger military response.
Leadership Shift In Iran dds Uncertainty
Meanwhile, Iran on Sunday announced that Mojtaba Khamenei will succeed his father, Ali Khamenei, as the country’s supreme leader. Trump dismissed the development, saying he had “no message” for the incoming leader.
On the tenth day of the Iran war, the Human Rights Activists News Agency or HRANA reported widespread strikes across several provinces.
Heavy attacks were reported in Isfahan, damaging historic landmarks such as Chehel Sotoun and Ali Qapu palaces, while civilian casualties continued to rise.
Asian Markets Rally Despite Tensions
While U.S. futures declined, Asian markets traded higher. Japan’s Nikkei 225 surged 2.91% and South Korea’s KOSPI jumped 5.20%.
Energy ministers from the Group of Seven are scheduled to meet on Tuesday to discuss a potential release of strategic oil reserves aimed at stabilizing global energy markets, CNBC reported.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo: noamgalai from Shutterstock
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