Following U.S. President Donald Trump's statement that an agreement with Iran regarding the Strait of Hormuz is no longer in effect, significant turbulence has been observed in global markets.
Oil prices surged more than 6%, while stock markets experienced sharp declines. Brent crude rose 6.4% to $78.93 per barrel, while U.S. benchmark WTI crude climbed 6.5% to $74.99 per barrel.
It is noted that in recent weeks, oil prices had declined amid expectations that an agreement would be reached between the U.S. and Iran regarding the opening of the Strait of Hormuz. Current prices remain well below the peak levels seen during the conflict period, when Brent crude exceeded $120 per barrel, but the recent spike has reignited inflation-related concerns.
The statement also had a negative impact on global stock markets. Dow Jones and Nasdaq futures fell 1.3% and 1.6% respectively, while S&P 500 futures declined 1%.
Europe's major stock indices fell approximately 2%. In Asia, South Korea's KOSPI index fell 5.4% during trading, while Japan's Nikkei index declined 2.1%.