🔸A five percent jump in global oil prices after Trump’s remarks about the ceasefire with Iran ending Global oil prices rose by more than 5%. The increase came after Donald Trump, on the sidelines of a NATO summit in Ankara, called continued talks with the Islamic Republic “a waste of time” and said the ceasefire with Iran “has ended.” The price of Brent oil on Wednesday, 17 Tir (July 8) rose 5.3% to $78.09 per barrel, while West Texas Intermediate (WTI) crude oil also rose 5.4% to $74.23 per barrel. On Wednesday, CENTCOM said that in a retaliatory attack it targeted more than 80 sites in Iran. Following that, the Islamic Revolutionary Guard Corps (IRGC) and the army of the Islamic Republic also reported attacks on more than 85 targets, including U.S. military bases in Kuwait and Bahrain. These mutual attacks helped set the stage for a rise in oil prices, but the jump in oil prices occurred immediately after Trump’s remarks.