Global oil prices dropped sharply while stock markets rallied on Wednesday after Donald Trump заявил that the war with Iran could end within “two to three weeks.”
Brent crude, the international benchmark for oil, fell to $99.78 per barrel—more than 15% lower than Tuesday’s price and its lowest level in a week, according to The Guardian.
Stock markets across Asia posted strong gains, particularly in economies heavily exposed to oil and gas supply disruptions from the Gulf region. Japan’s Nikkei 225 rose by 5%, while South Korea’s KOSPI surged 8%. Hong Kong’s Hang Seng Index increased by 2%, and China’s CSI 300 climbed 1.7%.
European markets followed Asia’s upward trend. The UK’s FTSE 100 rose 1.8% in early trading, while the STOXX Europe 600 gained 2.2%.
Speaking about the conflict, Trump said: “We’re finishing the job now. I think within two weeks, or maybe a little longer, we will be done. We want to destroy everything they have.”
His remarks triggered a relief rally in US markets on Tuesday, with the S&P 500 climbing 2.9%.
Trump is expected to address the nation later on Wednesday, adding to investor anticipation.
Emma Wall, Chief Investment Strategist at Hargreaves Lansdown, said markets are “choosing to believe the optimism coming from the White House.”
“Trump’s comments suggest the US may soon declare victory and withdraw from the region, even without a formal agreement with Iran,” she noted. “While this is likely to provide a short-term boost to equities, energy disruptions could persist for months and impact both inflation and economic growth.”
Meanwhile, traders in the City of London reduced expectations for interest rate hikes in the United Kingdom this year.
Money markets now anticipate around 41 basis points of rate increases by the end of 2026, down from 66 basis points projected just a day earlier—indicating that investors no longer expect two full 0.25 percentage point hikes.
Gold prices, which rose 3.5% on Tuesday, increased a further 0.8% on Wednesday, reaching their highest level in nearly two weeks at over $4,700 per ounce.
