Oil prices jump after Trump threatens to hit Iran ‘very hard’
Key takeaways
- Add ARY News on Google AAResize NEW YORK: Oil prices rose nearly $3 a barrel on Wednesday after President Donald Trump said the U.S.
- Brent crude futures were up $2.63, or 2.8%, at $94.06 a barrel at 1:07 p.m.
- Trump reiterated that Iran would be attacked on Wednesday.
Why this matters: local context for readers following news across Pakistan and the region.
Add ARY News on Google AAResize NEW YORK: Oil prices rose nearly $3 a barrel on Wednesday after President Donald Trump said the U.S. is going to attack Iran “very hard” if no peace deal is finalized and as market data showed a larger-than-expected drawdown in U.S. crude inventories.
Brent crude futures were up $2.63, or 2.8%, at $94.06 a barrel at 1:07 p.m. EDT (1707 GMT), while U.S. West Texas Intermediate (WTI) crude rose $2.93, or 3.3%, to $91.12 a barrel, after earlier touching a session high of $91.47.
Trump reiterated that Iran would be attacked on Wednesday. He made the remark after scolding Tehran in a Truth Social post for allegedly prolonging negotiations following tit-for-tat strikes overnight.