Oil prices were back in focus Tuesday after US President Donald Trump stepped up his warnings toward Iran.
Markets had a quiet start to the week because of holidays across Asia and the United States. But Trump’s fresh comments about possible “consequences” if Iran doesn’t make a deal quickly grabbed attention.
He made the warning ahead of talks between Washington and Tehran in Geneva. Trump has repeatedly threatened military action against Iran — first over its crackdown on protests, and more recently over its nuclear program.
Oil reacts
Oil prices moved on the news.
- US West Texas Intermediate rose more than 1%, nearing $64 per barrel.
- Brent crude slipped slightly, trading just under $69.
Energy traders are watching closely. Any tension involving Iran raises concerns about supply disruptions, especially in the Middle East.
Holiday mood in Asia
Trading volumes were light.
Markets in Shanghai, Hong Kong, Taipei, Seoul, and Singapore were closed for the extended Lunar New Year break. US markets were also shut Monday for Presidents’ Day and were set to reopen Tuesday.
In Japan, the Nikkei 225 fell 0.8% after weak fourth-quarter growth data showed the economy is still struggling.
The dollar was trading around 153 yen, slightly weaker than the previous day. A weaker yen often helps Japanese exporters.
Gold, silver, and stocks
Gold dipped below $5,000 per ounce, while silver dropped 4%.
In Australia, shares climbed 0.5% after mining giant BHP reported stronger half-year profits, helped by solid demand for copper. Copper remains critical for global electricity and clean energy projects.
Bangkok rose 0.5% despite weak economic growth data, boosted by optimism after the conservative Bhumjaithai Party’s strong election victory earlier this month.
Mumbai, Jakarta, and Manila were also higher. Wellington slipped 0.5%, while Kuala Lumpur was mostly flat.
AI in the spotlight
Beyond markets, investors are also watching developments in artificial intelligence.
Tech leaders and global officials are gathering this week at the AI Impact Summit in New Delhi. The five-day event aims to outline a shared roadmap for global AI governance.
US Federal Reserve officials are also expected to speak about AI and its economic impact.
For now, though, oil and geopolitics are driving the mood. With tensions rising and global markets just returning from holiday breaks, traders are staying cautious.
