Asian stocks are mostly lower and oil prices have jumped after U.S. President Donald Trump warned Iran that the “clock is ticking” as talks over a permanent end to the war stall.

Trump told Axios "the clock is ticking" for Iran and warned if the regime doesn't make a better deal "they are going to get hit much harder."

Trump's warning to Iran over the weekend signals that the impasse between Washington and Tehran over ending the war could deteriorate into resumption of armed conflict.