Oil Prices Soar As Middle East Tensions Escalate

Oil prices surged over 6 percent after U.S. President Donald Trump declared the Iran ceasefire "is over" at the NATO summit, sparking fears of renewed conflict and disruptions in the Strait of Hormuz. This declaration followed U.S. military strikes on Iran in response to attacks on commercial shipping, with Iran retaliating against Bahrain and Kuwait, jeopardizing the interim peace agreement.