Stock markets in Asia drop sharply, with investors nervous over escalation of Middle East conflict
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The price of oil has risen sharply to $116 a barrel after Donald Trump said he wanted to “take the oil in Iran”, sending Asian stock markets tumbling.
Brent crude, the international benchmark for oil, rose by 2% in early trading on Monday, after Trump said that he could seize the Iranian export hub of Kharg Island.
Trump told the Financial Times in an interview on Sunday: “To be honest with you, my favourite thing is to take the oil in Iran, but some stupid people back in the US say: ‘why are you doing that?’ But they’re stupid people.”
