Global oil prices surged over six percent after Donald Trump declared the US-Iran interim peace deal “over,” following fresh US strikes on Iran and retaliatory attacks by Tehran.
Oil Surges 6% as Trump Kills Iran Deal
Oil markets just got a jolt. Prices surged more than 6% on Wednesday after Donald Trump declared the US-Iran interim peace deal “over,” according to Nairametrics. WTI crude jumped to $74.82 a barrel, Brent to $78.88.
Speaking at the NATO summit, Trump said he no longer wanted to deal with Tehran, calling Iranian leaders “scum” and dismissing further talks as “a waste of time.” The remarks followed fresh US strikes on over 80 Iranian targets, prompting Iranian retaliation on bases in Kuwait and Bahrain.
Washington has also reversed a sanctions waiver on Iranian oil exports, stranding an estimated 63 million barrels at sea. Nigeria’s fuel market, meanwhile, has seen prices ease following recent Dangote Refinery price cuts.
NEWS NOW:
