Oil plunges, Asian stocks up on Trump ceasefire claim
President Donald Trump's ceasefire announcement came shortly after Iran carried out a missile attack on a U.S. military base in Qatar as retaliation for U.S. airstrikes. © Reuters
SHOTARO TANI and JADA NAGUMO
TOKYO -- Oil prices plunged and Asian stocks rose sharply on Tuesday, after U.S. President Donald Trump announced a ceasefire between Israel and Iran.
The price of Brent crude, the international benchmark, opened Asian trading down more than 3% to trade below $70 per barrel. The drop came on top of a 7% drop in Monday trading, its biggest fall since March 2022.
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Nikkei Asia
25 minutes ago
- Nikkei Asia
Trump says Israel and Iran have agreed to 'complete' ceasefire
U.S. President Donald Trump delivers an address to the nation at the White House on June 21, following U.S. strikes on Iran's nuclear facilities. © Reuters RINTARO TOBITA and KEN MORIYASU WASHINGTON -- U.S. President Donald Trump said that Israel and Iran have agreed to a "complete and total" ceasefire, roughly 48 hours after American forces conducted strikes on three Iranian nuclear sites. Writing on Truth Social at about 6 p.m. on Monday in Washington, the president said the ceasefire process would start in about six hours, upon which time Iran will hold fire for 12 hours. If successful, Israel will begin its ceasefire for another 12 hours, Trump explained.
Nikkei Asia
25 minutes ago
- Nikkei Asia
China pushes ceasefire at UN as Asia echoes call to end Iran war
The United Nations Security Council meets after the U.S attack on Iran's nuclear sites, at U.N. headquarters in New York on June 22. © Reuters Nikkei staff writers TOKYO -- China's ambassador to the United Nations issued a fresh rebuke of U.S. strikes on Iranian nuclear facilities at an emergency Security Council meeting, as governments across Asia warily assessed a new era in the Middle East. U.S. President Donald Trump's decision to enter the Israel-Iran conflict by bombing three key nuclear sites over the weekend "seriously violated the purposes and principles of the UN Charter and international law, infringed upon Iran's sovereignty, security and territorial integrity, aggravated tensions in the Middle East and severely impacted the international nuclear non-proliferation system," Ambassador Fu Cong said on Sunday at the U.N. in New York, according to China's Xinhua state news agency.
Kyodo News
26 minutes ago
- Kyodo News
Japan welcomes Trump's announcement on Israel-Iran cease-fire
KYODO NEWS - 2 hours ago - 12:02 | All, Japan, World Japan on Tuesday welcomed U.S. President Donald Trump's announcement of what he called a complete cease-fire between Israel and Iran, expressing "strong hope" that it will be firmly implemented. Chief Cabinet Secretary Yoshimasa Hayashi said Japan will continue to monitor how the situation unfolds in the Middle East with high interest and make "all diplomatic efforts possible" to ensure peace and stability there. Trump said Monday on his social media that there will be a "total and complete" cease-fire between Israel and Iran. "We will continue to monitor further developments with high interest," Hayashi told a press conference, saying that de-escalating the situation quickly is "of utmost importance." "Peace and stability in the Middle East is critically important for Japan. We will make all necessary diplomatic efforts possible in coordination with the international community," the top government spokesman said. The comments came following mounting concerns about escalating tensions in the Middle East after the United States attacked three key nuclear facilities in Iran on Sunday, getting directly involved in the Israel-Iran conflict. In response, Iran launched missiles on a U.S. military base in Qatar on Monday. Japan has said it is deeply concerned about Israel and Iran trading attacks. As resource-scarce Japan gets most of its oil from the Middle East, it sees peace and stability in the region as vital. Japan and Iran have traditionally maintained amicable ties. Following the U.S. strikes on Iran, Japan, a close security ally of the United States, has largely fine-tuned its response instead of voicing its outright support. Prime Minister Shigeru Ishiba, who initially refrained from saying whether Tokyo backs the U.S. military action, said Monday Japan understands that the U.S. action is meant to show its resolve to de-escalate the situation swiftly and prevent Iran from possessing nuclear weapons. Related coverage: Trump says Israel, Iran have agreed to total cease-fire Japan appears to show some support for U.S. strikes on Iran
