On Sunday evening, global markets turned volatile as oil prices spiked and equity futures slipped amid escalating rhetoric between Washington and Tehran.
Markets Slide As Oil Prices Spike On War Fears
Dow futures fell 249 points, or 0.55%, to 45,175, while S&P 500 futures declined 33.25 points, or 0.52%, to 6,379.00. Nasdaq 100 futures dropped 135.25 points, or 0.58%, to 23,193.25.
In commodities, WTI crude futures climbed 2.50% to $102.13 per barrel, while Brent crude rose 2.63% to $115.53 per barrel.
RBOB gasoline futures gained 1.18% to $3.2883 per gallon and ULSD heating oil futures advanced 1.89% to $4.5803 per gallon.
Natural gas futures fell 3.01% to $2.934 per MMBtu.
Meanwhile, the U.S. dollar index was nearly flat at 100.167, down 0.03%.
Asian markets were sharply lower, with Japan’s Nikkei 225 plunging 4.67% to 50,879.22, while South Korea’s KOSPI dropped 3.63% to 5,241.37.
Trump Signals Iran Oil Seizure, Troop Buildup Intensifies
Earlier in the day, Donald Trump suggested, while speaking with the Financial Times, that the U.S. could seize Iran’s oil infrastructure, including the key export hub on Kharg Island.
Trump said his “favorite thing” would be to “take the oil in Iran,” while adding the U.S. has “a lot of options.”
The comments come as Washington reportedly deploys thousands of troops to the region, including Marines and airborne units trained for rapid ground operations.
On Friday, economist Nouriel Roubini, who predicted the 2008 financial crisis, warned that Trump is more likely to escalate the U.S. conflict with Iran than pursue a swift resolution.
Tehran Pushes Back, Signals Readiness To Respond
Iranian officials struck a defiant tone. Iran’s parliament speaker Mohammad Baqer Qalibaf accused the U.S. of sending mixed signals—talking about negotiations while preparing military action.
He said Iran would “never accept” demands for surrender and warned the country is ready to respond if U.S. troops are deployed on the ground.
Diplomacy Efforts Continue Amid Rising Risks
Meanwhile, Pakistan has signaled it is preparing to host talks aimed at de-escalation on Sunday. However, uncertainty remains high, with a U.S. deadline looming for Iran to agree to terms or face potential strikes on its energy sector.
Adding to concerns, Iran’s nationwide internet blackout has stretched to nearly a month.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image via Shutterstock/ Mason Lawrence
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