Summary
- International oil prices jumped after U.S. President Donald Trump said the ceasefire with Iran was over.
- Brent crude rose 6.3% to $78.86 a barrel, while WTI climbed 5.9% to $74.60.
- The market said renewed Middle East geopolitical risks were heightening concern over oil supply disruptions.
Forecast Trend Report by Period
International oil prices jumped after U.S. President Donald Trump said the ceasefire with Iran was over.
Walter Bloomberg reported on July 8 that Trump said the ceasefire had "ended" after U.S. airstrikes and attacks on merchant ships near the Strait of Hormuz.
Brent crude rose 6.3% to $78.86 a barrel, while West Texas Intermediate climbed 5.9% to $74.60.
The move reflected renewed geopolitical tensions in the Middle East and growing concern over potential disruptions to oil supplies, the market said.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.