OIL PRICES JUMP 5%, STOCKS SLIDE AFTER TRUMP SAYS IRAN CEASEFIRE OVER

Global oil prices surged by more than 5% on Friday after former US President Donald Trump declared that the ceasefire with Iran was over, triggering renewed geopolitical tensions in the Middle East and sending shockwaves through financial markets.

Brent crude jumped to $92.45 per barrel while West Texas Intermediate (WTI) rose to $88.70, reflecting investor fears of potential supply disruptions in the region. The sharp increase came after Trump’s statement on his social media platform, where he criticised the current administration’s handling of the situation and hinted at the possibility of renewed conflict.

The announcement sent stocks sliding on Wall Street, with the Dow Jones Industrial Average dropping over 400 points in early trading. Major energy companies saw gains while technology and consumer stocks suffered losses as investors sought safe-haven assets.

Market analysts said the development has heightened uncertainty in global energy markets. “Trump’s statement has reintroduced significant geopolitical risk premium into oil prices. Any escalation could lead to further spikes and volatility,” said Mr. Michael Thompson, a senior commodities analyst at a leading investment bank.

The White House has not yet issued an official response to Trump’s remarks, but sources say diplomatic efforts are ongoing to prevent a full breakdown of the ceasefire. Iran has also remained relatively muted, with officials calling for restraint from all parties.

The surge in oil prices is expected to have ripple effects on global inflation, transportation costs, and consumer prices. Energy experts are closely monitoring developments in the Persian Gulf, where any disruption in the Strait of Hormuz could have severe consequences for global oil supply.

As markets continue to react to the news, investors are bracing for further volatility in the coming days. The situation remains fluid, with analysts warning that a single statement from a major political figure can significantly influence commodity prices and investor sentiment worldwide.