Oil Prices Surge After Trump Vows More Iran Strikes

Oil prices rose five percent after President Trump pledged more aggressive strikes on Iran. Markets fell as his speech offered no timeline for ending the war.

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Global financial markets were jolted on Thursday as prospects for a swift conclusion to the Middle East conflict dimmed following a prime-time address by United States President Donald Trump. Instead of offering a de-escalation roadmap, the president vowed to intensify military operations against Iran over the coming weeks, sparking a renewed surge in energy prices and a sell-off in global equities.

President Donald Trump pauses as he finishes speaking about the Iran war from the Cross Hall of the White House on Wednesday, April 1, 2026, in Washington. Alex Brandon/Pool via REUTERS
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