Oil Prices Surge Over 6% as Trump Declares Iran Peace Deal 'Over' Amid New Military Strikes

Global oil prices surged by more than 6% today, reaching a two-week high, following an announcement by US President Donald Trump that the memorandum of understanding to end the conflict with Iran was 'over.' This declaration, coupled with fresh military strikes exchanged between the US and Iran, reignited fears of significant disruptions to Middle East oil supplies.