Oil prices jump by the most in two months after Trump suggests U.S.-Iran cease-fire is over
Oil prices jumped by the most in two months after President Donald Trump suggested a cease-fire with Iran is over. According to MarketWatch, Brent crude and West Texas Intermediate contracts climbed after Trump said dealing with Tehran is "a waste of time."
Oil prices jumped by the most in two months after President Donald Trump suggested that a cease-fire with Iran is over, according to MarketWatch. Brent crude and West Texas Intermediate contracts both climbed sharply.
Trump's comment that dealing with Tehran is "a waste of time" revived supply concerns among investors. Renewed tension around the Strait of Hormuz has heightened perceived risks to the energy flows that pass through the region.
Analysts said geopolitical developments could keep oil markets volatile in the near term. The path of prices in the days ahead is likely to hinge on military and diplomatic developments in the region, as traders weigh the risk of further disruption.
Read next
US and Iran trade strikes after tankers hit in Strait of Hormuz
The United States and Iran traded military strikes after tankers were hit in the Strait of Hormuz. The US military says it struck missile sites and command centres, while Iran says it attacked US bases. The exchange marks a renewed escalation between the two sides.
Four Ugandan farmers sue in UK court to halt EACOP oil pipeline before first oil
Oil prices jump after US strikes on Iran raise Middle East supply fears
BHP workers to strike at Port Hedland as talks with mining giant stall
