Trump says oil surge is ‘very small price to pay’ as crude tops $100 a barrel; hints at when prices could fall
Crude oil prices rocketed past $100 a barrel on Sunday for the first time since Russia’s invasion of Ukraine in 2022. The ongoing US military campaign against Iran has strangled one of the world’s most critical energy chokepoints. It has also forced major Gulf producers to dramatically curtail output.
West Texas Intermediate, the US benchmark, surged 17% or $15.32 to $106.22 a barrel by Sunday, while global benchmark, Brent crude, advanced 15% or $14.28 to $106.92. By later in the day, US oil prices had extended gains to more than 23% on the session, trading above $111 a barrel.
