Following statements by US President Donald Trump about the war in Iran, oil prices experienced a new surge. Specifically, prices soared above $90 per barrel. American President Donald Trump caused fresh market turmoil and oil price spikes after his pledge to continue the war until Iran’s “complete and unconditional surrender.” Meanwhile, investors are growing concerned about Middle East oil supplies due to attacks on energy infrastructure and disruptions in the Strait of Hormuz.
“There will be no deal with Iran, only unconditional surrender,” the US President wrote on his Truth Social network. Following this post, North Sea Brent crude prices climbed to $91.89 per barrel, the highest since April 2024. American crude (WTI) briefly touched $89.62 per barrel, marking a 10.63% increase, before retreating slightly.
