Oil prices jumped on Wednesday after renewed geopolitical fears tied to President Donald Trump’s escalatory language toward Iran boosted risk premiums in global crude markets.
Futures on West Texas Intermediate crude rose about 1% to nearly $63 a barrel, touching their highest levels since late September 2025. Brent crude also advanced, climbing to around $68 a barrel.
Oil Prices Rally on Escalating Iran Tension
In a post on social media, Trump said a “massive armada,” including the USS Abraham Lincoln and guided‑missile destroyers, is headed toward Iran — stirring supply disruption fears through global energy chokepoints such as the Strait of Hormuz.
Trump added the naval force was “ready, willing, and able to rapidly fulfill its mission, with speed and violence, if necessary,” while urging Iran to negotiate what he called …Full story available on Benzinga.com
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