Crude oil surges 11% as Trump rules out Iran deal without ‘unconditional surrender’; Brent tops $90
Crude oil prices saw a massive jump in the evening trade on Friday, 6 March, after US President Donald Trump demanded “unconditional surrender” from Iran, raising fears that the ongoing war will last longer than expected and could stoke global inflation.
Reacting to this development, Brent crude futures jumped 7.5% to cross $90 per barrel for the first time since April 2024, reaching $91.84. West Texas Intermediate crude advanced 11% to the day’s high of $89.62 per barrel. WTI was last seen around these levels in October.
