Oil prices have fallen below $100 a barrel and Asian shares have surged following President Donald Trump's statement that the US will withdraw from Iran in "two to three weeks," irrespective of a deal.

• Brent crude oil for June delivery traded down around 5% at approximately $98.65 a barrel.
• Key figures include President Donald Trump and Iranian President Masoud Pezeshkian.
• The price drop comes after a record 64% jump in March, driven by fears of disruption to the Strait of Hormuz.

South Africa has announced significant fuel price hikes effective midnight, with petrol and diesel set to rise sharply due to escalating global oil prices and a weakening rand.

• Petrol prices will increase by 3.06 rand (approx. $0.18) per liter, and diesel by 7.37 to 7.51 rand per liter.
• The Department of Mineral and Petroleum Resources attributed the increases to a surge in international crude oil prices, driven by tensions between the United States and Iran.
• To offer temporary relief, a 3 rand per liter reduction in the general fuel levy for April has been implemented.