Oil rises 7% on Trump's Iran warning

Oil prices surged sharply after U.S. President Donald Trump threatened to strike Iran forcefully in response to what he described as a sudden attack attempt on American forces. Brent crude increased by 6.6%, reaching $89.61 per barrel, while the futures contracts for West Texas Intermediate rose to $84.31. This comes amidst an Iranian military escalation, following the Iranian Revolutionary Guard’s launch of ballistic missile attacks and attempts to assault American forces in the Middle East, in retaliation for attacks targeting logistical sites and weapons affiliated with Iran in Iraq. These developments reflect regional tensions and their impact on global oil prices.

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