CNBC Daily Open: Markets recover as Trump hints Iran war is nearing its end

Core Viewpoint - Oil prices are declining as investors react to U.S. President Trump's comments regarding the potential early end to the war and threats to increase attacks on Tehran if oil flow through the Strait of Hormuz is obstructed [1][2]. Group 1: Market Reactions - U.S. stock futures were lower as traders evaluated Trump's comments, which indicated a possible escalation in the Strait of Hormuz [3]. - South Korea's Kospi index rose more than 5%, leading gains in Asia, while European markets were expected to open positively as oil prices reduced their losses [2]. Group 2: Geopolitical Developments - The Strait of Hormuz, a critical chokepoint for oil, has been effectively closed, with warnings from Iranian officials for oil tankers to exercise caution [3]. - Amid the geopolitical tensions, there has been a surge in speculative betting on the Iran war, raising concerns about the implications of such predictions in markets [4]. Group 3: Domestic Responses - In response to the oil price shock, South Korea has imposed a price cap on fuel products for the first time in 30 years, with President Lee Jae Myung indicating a need to diversify energy import sources as gasoline prices rise [3].