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Oil Prices Jump Sharply After Trump’s Warning Against Iran
(MENAFN) Oil prices jumped sharply on Thursday, with Brent crude surpassing $107 a barrel, after U.S. President Donald Trump warned that Iran would be hit “extremely hard,” sparking fears of prolonged conflict and deeper supply disruptions in the Middle East.
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.”
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.”
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