Trump Warns of Months-Long Port Blockade; Asian Markets Mostly Decline

Asian stock markets largely declined on April 30th following US President Donald Trump's warning that a blockade of Iranian ports could extend for months and reports of him receiving briefings on potential new military strikes. International oil prices surged over 5% intraday. The Wall Street Journal reported that Trump has directed national security officials to prepare for a long-term blockade aimed at forcing Iran to abandon its nuclear program. An anonymous White House official stated that Trump informed oil industry executives on April 28th about potential measures to ease global oil market pressure and ensure minimal impact on US consumers if the blockade were to continue for several months. Trump also posted on social media, stating, 'Iran is in turmoil... They'd better get smart fast,' accompanied by a doctored image. Analysts noted that while rhetoric is heated, current actions do not fully align with a significant escalation, suggesting a potential stalemate in negotiations despite a path towards an agreement. In Asian trading, Brent crude rose 5.6% to $124.67 per barrel, and West Texas Intermediate crude increased by 2.4% to $109.49 per barrel. Major Asian markets including Tokyo, Hong Kong, Taipei, Seoul, Sydney, and Manila closed lower, while Shanghai and Wellington saw gains.