Donald Trump’s apparent willingness to end the war on Iran without reopening the Strait of Hormuz sent a jolt through energy markets.
Brent crude, the global benchmark for oil, shot upwards following Trump’s speech, surging past USD 108 a barrel. That’s a jump of USD 10 over the day before. Leading up to Wednesday’s address, oil prices had eased on hopes that military operations could be over within weeks. The uncertainty surrounding the war in Iran has spooked investors and created turmoil on stock markets around the world.
Chapters:
0:00 Crude oil prices surge
0:35 Ben Cahill, University of Texas
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