Trump’s Iran strike comments shake markets, Brent crude hits two-week high
Summary
President Donald Trump said the agreement with Iran to end conflicts is likely over and warned of more US strikes. This caused global stock markets to drop and oil prices to rise to their highest in two weeks.Key Facts
- President Trump said the US-Iran peace agreement is “over” and hinted at more US strikes soon.
- The Dow dropped 0.8%, Nasdaq 0.2%, and S&P 500 0.5% after his comments.
- Brent crude oil price rose 4.2% to $77.24 a barrel, the highest in two weeks.
- Oil prices had been falling recently as hopes for peace increased.
- US gasoline prices dropped from $4.48 to $3.79 per gallon since May but may rise again.
- President Trump said the US produces more oil than Russia and Saudi Arabia combined.
- Airlines stocks fell due to expected higher fuel costs; energy company stocks rose.
- Iran’s Revolutionary Guard said it targeted US military sites in response to strikes.
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