Oil prices surge after Trump says interim Iran peace deal is “over”

AI Summary

Oil prices surged sharply after U.S. President Donald Trump declared that an interim peace deal with Iran was over following renewed attacks in the Persian Gulf. Brent crude futures rose by 5.5% to $78.24 a barrel amid escalating tensions.

Oil prices rose sharply on Wednesday after U.S. President Donald Trump also said that he believed a fragile truce between Washington and Tehran was “over” following a fresh exchange of attacks across the Persian Gulf. At 04:46 ET (08:46 GMT), Brent crude futures, the global oil benchmark, had risen by 5.5% to $78.24 a barrel, ...