Global Oil Prices Surge After Trump's Speech on Iran, Asian Stock Markets Immediately Plunge
Global oil prices surged sharply while global stock markets weakened after US President Donald Trump delivered a speech on the Iran conflict in a live broadcast from the White House. The statement triggered new concerns in the global energy and financial markets.
In his speech, Trump emphasised that the United States’ primary objectives in the conflict were nearly achieved. He also urged other countries dependent on Middle Eastern oil to play a greater role in keeping major energy distribution routes open.
The Strait of Hormuz became the main focus in this conflict. This narrow waterway is one of the world’s most important energy shipping routes, with around 20% of global energy supplies typically passing through the area. However, since the conflict escalated due to Iran’s retaliatory attacks against the US and Israel, the route has effectively been closed due to threats to passing vessels.
According to the BBC on Thursday, 2 April 2026, before Trump’s speech, the Brent benchmark oil price was around US$100 per barrel, equivalent to Rp1,700,000. After the speech, the price jumped 4.8% to US$106.02, or approximately Rp1,802,340 per barrel.
Meanwhile, West Texas Intermediate oil also rose 4% to about US$104, equivalent to Rp1,768,000 per barrel. This price increase reflects a fairly drastic change in market sentiment. Alberto Bellorin from InterCapital Energy stated that the surge was a real market response after previous optimism about the possibility of a ceasefire in the near future.
He added that Trump’s speech provided no timeline clarity regarding the reopening of the Strait of Hormuz. According to Bellorin, this situation has dashed hopes for a quick recovery in global energy supplies. He estimated that a return to normal conditions would take months, not weeks as previously expected.
A similar view was expressed by Tina Soliman-Hunter from Macquarie University. She assessed that the signals from Trump indicate the conflict is likely to continue, leading investors to anticipate limited oil supplies in the near term.
The impact was immediately felt in Asian stock markets. Japan’s Nikkei 225 index fell 1.9%, while South Korea’s Kospi dropped up to 3.5%. Hong Kong’s Hang Seng index also weakened by around 1%. This decline reversed the gains that had occurred before Trump’s speech.