Asian stocks also took a hit after Trump’s speech, as most Southeast Asian countries rely heavily on oil imports, leaving them especially exposed.

Oil prices rose more than $5 as President Donald Trump said the United States would continue attacks on Iran without committing to a specific timeline to end the war, fanning investor fears about sustained disruptions to supply.

Brent crude futures LCOc1 rose $6.33, or 6.3 percent to $107.49 per barrel early on Thursday, while US West Texas Intermediate crude CLc1 futures were up $5.28, or 5.3 percent to $105.40 per barrel.

The gains followed an earlier fall of more than $1 in both benchmarks prior to Trump’s…