Donald Trump said the U.S.-Iran ceasefire remains on “massive life support” triggering a rebound in global oil prices as investors reassessed geopolitical risks tied to Middle East energy supplies. Brent crude climbed back above $104 per barrel while U.S. crude also posted strong gains following the comments.
Markets reacted to concerns that renewed tensions could further disrupt shipping activity through the Strait of Hormuz, a critical route for global oil exports. Traders had previously reduced energy risk premiums after reports of potential diplomatic progress between Washington and Tehran.
Analysts said continued uncertainty around negotiations and regional security is likely to keep volatility elevated across energy and commodity markets in the near term.
