worldSource: CNBCPublished
Oil prices surge after Trump warns Iran of hard retaliation
world · CNBCA sudden escalation in tensions between the US and Iran sent oil prices soaring, with Brent crude futures gaining over 6% and US West Texas Intermediate futures advancing almost 6.3%.
At a glance
- President Trump vowed to hit Iran hard in retaliation for an attempted surprise attack on American forces.
- Iran's Islamic Revolutionary Guard Corps launched ballistic missiles at US forces, which were successfully intercepted.
- The escalating tensions shattered a brief pause in fighting, causing oil prices to jump sharply.