World · 9 July 2026
Oil prices jump as Trump says Iran ceasefire is over
Unsplash / Patrick Hendry
On Wednesday, President Donald Trump announced the end of the US-Iran ceasefire, leading to an increase in global oil prices and a decline in stock markets. The global benchmark, Brent crude, saw an increase of over 5%, reaching more than $80 a barrel. By Wednesday afternoon, US stock markets had declined, with the Dow recording a fall of 1.09%, equivalent to 500 points.
Reported by Guardian · How we write briefs