Oil Prices Surge on Iran Statement Amid Ongoing Geopolitical Tensions
Brent crude oil futures saw a significant jump after Iran's latest statement, rising by $1.04 or 1.24% to $84.81 per barrel.
This comes after prices plummeted by 7% the day before, hitting a three-week low.
The market remains sensitive to geopolitical news, with investors still pricing in the risk of a new escalation, according to Ahmad Assiri, research strategist at Pepperstone.