Oil Prices Surge After Trump Warns of Severe Action Against Iran
Brent crude, the international benchmark, traded at $108 per barrel, up 6.7% as of early Thursday, while U.S. West Texas Intermediate climbed to $106.45, gaining 6.3%.
The surge followed Trump’s statements indicating that U.S. attacks on Iran were set to continue, offering no immediate prospect of de-escalation and disappointing investors who had hoped for signs of a ceasefire or diplomatic resolution.
Trump declared, “We’re going to hit them extremely hard. Over the next two to three weeks. We’re going to bring them back to the Stone Age, where they belong.”
Earlier in the week, oil markets had shown some easing as traders anticipated a possible reduction in U.S. military activity. However, sentiment reversed after Trump’s remarks renewed worries over potential disruptions to crude shipments, particularly through the Strait of Hormuz, a critical corridor for global energy flows.
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