Oil prices surge over $4 as Trump vows to continue Iran war, including energy targets

LONDON, April 02 (YPA) – Oil prices surged more than $4 a barrel on Thursday after US President Donald Trump said Washington would continue its war on Iran – including strikes on energy infrastructure – over the coming weeks, without committing to a timeline for ending the conflict.

Brent crude futures rose $4.88, or 4.8%, to $106.04 a barrel, while US West Texas Intermediate (WTI) crude futures gained $4.17, or 4.2%, to $104.29 a barrel.

The jump came after both benchmarks had fallen more than $1 earlier in the day before Trump’s address. They also closed lower in the previous session.

In a national address, Trump said the US military was nearing completion of its objectives in the Iran war and that the conflict would end soon, though he gave no timetable.

“We’re going to get the job done, and we’re going to get it done very quickly. We are very close to that,” he said.

Separately, the head of the International Energy Agency (IEA) warned on Wednesday that supply disruptions would begin impacting Europe’s economy this month.

@E.Y.M