Wednesday Mar 11, 2026
Wednesday Mar 11, 2026
Wednesday, 11 March 2026 01:52 - - {{hitsCtrl.values.hits}}
The price of oil has fallen sharply after US President Donald Trump said that the war in Iran would come to an end “very soon”.
Oil had reached almost $ 120 a barrel on Monday over fears that the conflict would cause lengthy disruption to energy supplies from the Middle East but dropped back to around $93 yesterday following Trump’s comments.
Although crude prices are still significantly higher than they were before the war, stock markets rebounded with London’s FTSE 100 index opening up 1.3%.
The president said he thought “the war is very complete, pretty much”, although he later warned Iran to not block the Strait of Hormuz, a shipping route crucial to global oil and gas supplies.
Share prices in Asia made gains as concerns about the economic impact of the conflict eased.
South Korea’s Kospi recovered from its heavy losses, surging more than 6%, while Tokyo’s Nikkei 225 also gained over 3% before easing slightly.
Japan’s Nikkei gained a whopping 1,648 points or 3.1% to trade at 54,376 while Hong Kong’s Hang Seng Index was up 351 points or 1.3% at 25,759. Shanghai and Shenzhen also traded in red, up 0.4% and 1.6%, respectively.
