Global shares retreated mostly and oil prices rose on Monday after President Trump warned Tehran that the “clock was ticking” for a peace deal.

US futures fell and markets in Japan and South Korea retreated from record highs. In early European trading, Britain’s FTSE 100 rose 0.1% to 10,205.31. France’s CAC 40 fell 0.9 percent to 7,883.42 and Germany’s DAX fell 0.1 percent to 23,925.82.

In Asian trading, Tokyo’s Nikkei 225 fell 1 percent to 60,815.95, led by technology-related stocks. It hit an all-time intraday high above 63,000 last week.

Seoul’s Kospi climbed 0.3% to 7,516.04 after trading lower earlier in the day. It crossed the 8,000 mark for the first time on Friday, supported by buying of technology stocks booming in artificial intelligence, but later declined partly as investors took profits.

Hong Kong’s Hang Seng fell 1.1 percent to 25,675.18. The Shanghai Composite Index fell 0.1 percent to 4,131.53, after China reported weaker-than-expected economic data for April.

Oil prices rose after Mr. Trump issued his latest warning to Iran in a social media post, telling the regime to “get better, get faster, or they’ll have nothing left,” following a call with Israeli Prime Minister Benjamin Netanyahu.

Brent crude, the international benchmark, rose 0.7 percent to $110.05 a barrel early Monday. It was trading at around $70 a barrel in late February before the outbreak of war. Benchmark US crude was trading up 1 percent at $106.49 a barrel.

A drone attack on a United Arab Emirates nuclear power plant over the weekend raised concerns about a possible escalation in the conflict.

ING commodities strategists Warren Patterson and Ewa Manthey wrote in a research note on Monday that there is hope that Mr. Trump visited Beijing. China last week It could use its influence on Tehran to “break the deadlock between the US and Iran”, which was “potentially misplaced”.

“If anything, the risks of relapse are increasing,” he wrote.

CBS/AP