U.S. President Donald Trump has threatened to put Iran in "the stone ages," despite recent claims that the war will last for another two to three weeks and warned Iran would be hit "extremely hard" in the meantime. This has led to a surge in oil prices, with international benchmark Brent crude futures rising nearly 6%. Most Asian stock markets also reacted negatively to the speech, with major indices from Hong Kong's Hang Seng index, Japan's Nikkei 225, South Korea's Kospi, and Australia's S&P/ASX 200 all in the red. Despite claiming that Iran's President had requested a ceasefire, Trump said the US would only consider this once the Strait of Hormuz is "open, free, and clear". He also hinted at potential withdrawal from NATO, calling it a "paper tiger".