Asia markets rebound, oil dives as Trump says Iran war could end soon

Asian stocks rallied and oil prices plunged at the start ​of trading on Tuesday, following a volatile session for markets overnight after U.S. President Donald Trump declared the Middle East war ‌could be “over soon.” MSCI’s broadest index of Asia-Pacific shares outside Japan was up 2.6%, paring losses since the start of the conflict, while Brent crude futures fell as much as 10% to below $90 per barrel as trading resumed. US equity futures were more muted, with S&P 500 e-mini futures down 0.2% to pare Monday’s ​rebound. Trump’s remarks injected a burst of optimism that contrasted sharply with events in Iran, where hardliners rallied behind new Supreme ​Leader Mojtaba Khamenei in a pointed show of defiance. The competing signals whipsawed global markets on Monday: oil prices ⁠initially spiked and stocks on Wall Street tumbled before rebounding sharply after Trump’s comments and fresh reports suggesting Washington may soften sanctions on Russian ​energy.