Oil surges and stocks fall as Trump Iran war speech fails to calm nerves
Oil prices have surged and stocks have fallen after President Donald Trump's speech on Iran, which signaled the US will intensify strikes on the country. The Strait of Hormuz remains a key point of contention, with dozens of countries discussing measures to reopen the vital waterway.
President Donald Trump's speech on Iran has led to increased oil prices and falling stocks. The US plans to intensify strikes on Iran. The Strait of Hormuz is currently blocked, but Russia claims it is open to its vessels. Dozens of countries are discussing ways to reopen the strait. Nearly 2,000 vessels are trapped in the Persian Gulf. The UK and EU are considering diplomatic pressure and sanctions against Iran.
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