Washington: Oil prices jumped by more than four dollars during early trading today, following US President Donald Trump's address, in which he confirmed that strikes on Iran would continue. Brent crude futures rose by as much as $4.88, or 4.8 percent, to $106.04 a barrel, while US West Texas Intermediate crude futures climbed $4.17, or 4.2 percent, to $104.29 a barrel.
According to Qatar News Agency, the significant rise in oil prices reflects market reactions to geopolitical tensions and potential supply disruptions following the president's statement. The confirmation of continued strikes has led to increased concerns among traders and investors about the stability of oil supplies from the region, contributing to the surge in prices.