Oil rises, US futures drop on Trump Tehran warning
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Global markets received a jolt in early Asia hours after President Donald Trump called for the evacuation of Tehran, in comments that contrasted with earlier optimism that Israel’s war against Iran wouldn’t escalate into a wider conflict. US futures fell 0.6% and oil climbed almost 2% following Trump’s comments in a social media post from a Group of Seven leaders’ summit in Alberta. It wasn’t clear what he was referring to but hours earlier, Trump had said Iran wanted to make a deal. Oil had earlier dropped on signs that the conflict in the Middle East may avoid disrupting crude production. A gauge of Asian stocks slipped, though Japanese and South Korean shares were marginally higher, after risk-on sentiment returned to Wall Street on Monday and pushed the S&P 500 up about 1% and back above 6,000. There were mixed signs that investors will keep faith in the US economy, as longer-maturity Treasuries continued to lag the market even af...