Oil surges and stocks fall as Trump Iran war speech fails to calm nerves

 Oil prices jump: US President Donald Trump’s address to the nation last night — which offered few details of an exit strategy for the war with Iran or a reopening of the Strait of Hormuz — has rattled markets.

• Trump’s address: The president used familiar talking points in his remarks, telling Americans the conflict is “nearing completion.” He also signaled the US is prepared to intensify its military response over the next two to three weeks. Iran’s military dismissed Trump’s claim that it has been weakened.

• Macron’s criticism: French President Emmanuel Macron said it’s “unrealistic” for Trump to urge other countries to use force to unblock the Strait of Hormuz, also accusing Trump of contradicting himself on the war.

• On the ground: US-Israeli strikes hit the oldest health medical research facility in Iran, according to an Iranian government official. In northern Israel, authorities said dozens of rockets were fired at the region.

Read more....