Trump's Warning Sends Oil Prices Soaring 8% After Iran Attack
Oil prices surged on Wednesday after US President Donald Trump warned Iran of retaliation following an attempted attack on US forces.
Brent crude, the international benchmark, jumped 7.5% or $6.15 to $88.13 a barrel, while US benchmark WTI crude rose $8, or nearly 6.3%, to $85.53 a barrel.
The renewed hostilities in the Middle East reignited fears of supply disruptions after several days of relative calm.