US crude hits $110 per barrel and Wall Street tumbles after Trump vows to escalate attacks on Iran
US crude oil prices surged to $110 per barrel after President Donald Trump vowed to escalate attacks on Iran, causing Wall Street to tumble. The price increase came as Trump delivered his first national address since the Iran war began, with oil prices rising over 10% and US futures falling sharply.
US crude oil prices rose sharply after President Donald Trump announced plans to escalate attacks on Iran. The price of US crude increased by $10.11 to $110.24 a barrel, outpacing the international benchmark Brent. Wall Street futures tumbled, with the S&P 500 and Dow Jones Industrial Average falling 1.5% and 1.4% respectively. The price increase came as Trump delivered his first national address since the Iran war began. Oil prices have been soaring due to supply disruptions caused by the conflict. The US and Iran have been engaged in a war since late February, with markets yet to post a weekly gain. Global markets were affected, with Asian shares closing lower and European markets also falling.
This content was automatically generated and/or translated by AI. It may contain inaccuracies. Please refer to the original sources for verification.