Global oil prices surged by more than 5% on Wednesday after US President Donald Trump announced the end of the truce with Iran, following new strikes in the Middle East.
The global benchmark Brent crude rose by 5.3% to reach $78.09 per barrel, while US benchmark West Texas Intermediate (WTI) climbed 5.4% to reach $74.23 per barrel.
The United States had launched extensive strikes against Iran following attacks targeting ships in the Strait of Hormuz, triggering a wave of retaliatory attacks that Tehran stated were targeting US bases in the Gulf region.
AFP
