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Oil Prices Rise Amid U.S.-Iran Tensions
Photo: Daily Trust
2026-07-08 17:25   Politics   10

Oil Prices Rise Amid U.S.-Iran Tensions

Oil prices jumped over 5% as President Donald Trump declared the interim agreement with Iran on peace was over.The U.S.strikes on Iran followed attacks on three ships in the Strait of Hormuz.Brent crude hit $78 per barrel, while U.S.benchmark crude reached $74.55.Trump called Iranian leaders 'sick' and 'vicious,' signaling the ceasefire was broken.The 60-day deal to allow ships through the Strait without fees collapsed after Iran refused to control vessel routes.Analysts warned this could disrupt global oil markets, with prices near $80 reflecting current instability.The article also notes Nigerian investment opportunities in premium domains.

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