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Written By DW
Last Updated : Wednesday, 8 July 2026 (16:41 IST)

Oil prices jump after Trump says ceasefire is over

Oil prices
BY: DW
Publish: Wed, 8 Jul 2026 (16:07 IST) Updated: Wed, 8 Jul 2026 (16:41 IST)
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Oil prices rose sharply after US President Donald Trump said the memorandum of understanding with Iran was over.
 
The price of Brent crude oil jumped over 5% to more than $78 a barrel while US benchmark crude spiked almost 6%, at one point even crossing the $75-per-barrel mark.
 
Prices had seen a drop since shooting up well over $100 a barrel following the outbreak of the US-Iran war in late February. ALSO READ: Iran war: Trump says ceasefire 'over' after fresh strikes; calls talks with Tehran a 'waste of time'

 

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