Oil prices have reached a four-year high amid reports that President Trump might consider military action against Iran.
On Thursday, oil prices surged past $120 per barrel, marking a four-year high. This increase followed reports that President Donald Trump is contemplating further military action in Iran, as reported by MarketWatch. [source]
The report noted that President Trump is set to receive a briefing on Thursday regarding potential plans to strike Iran. This news has driven the sharp rise in oil prices, reflecting market fears of potential disruptions in oil supply. [source]
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Oil jumps on report President Donald Trump will be briefed later on Thursday on plans to strike Iran
Sources
- https://www.marketwatch.com/story/oil-prices-climb-to-four-year-high-above-120-after-report-that-trump-is-considering-further-military-action-in-iran-9785eb43?mod=mw_rss_topstories — Details on oil price increase and potential U.S. military action in Iran