US President Donald Trump's warning of a potential war with Iran sent shockwaves through the global energy market, pushing oil prices above $106 per barrel. The move was seen as a negative for the stock market, with stocks and bonds falling after Trump's comments, while the dollar strengthened as a safe-haven asset. The oil price surge was triggered by Iran's closure of the Strait of Hormuz, a key oil transport route, and concerns over a prolonged conflict's impact on economic growth.