Oil prices up 5% as Trump threatens of further escalation
Global crude prices reversed early losses on Thursday morning after US President Donald Trump said the US is going to hit Iran “extremely hard” over the next two to three weeks.
In a televised prime-time address early Thursday (India time), Trump added that the US will “finish the job pretty soon” in Iran. Oil futures had initially traded lower on hopes of a ceasefire or a possible end to the war. However, following Trump’s remarks, prices surged sharply.
