Global oil prices surged and stock markets declined after renewed tensions in the Iran war raised fears of escalation, reported by CNN. Brent crude rose over 7 percent to cross $108 per barrel, while U.S. benchmark WTI also climbed sharply.
The report said investor sentiment weakened after President Donald Trump’s address offered no clear timeline for ending the conflict. While Trump claimed the war was nearing completion, he also warned of intensified strikes in the coming weeks, adding to uncertainty.
Oil prices surged after US President Trump pledged to continue the war on Iran, as markets reacted to conflict and supply risk:
— Al Jazeera English (@AJEnglish) April 2, 2026
🔸 Brent crude jumped above $106
🔸 West Texas Intermediate topped $104.
🔴 LIVE updates: https://t.co/MCTtxVt4RT pic.twitter.com/VXcAiwdNN1
Iran responded with threats of stronger retaliation, and missile activity continued across the region. According to reports, security alerts were issued in parts of the Middle East amid fears of further attacks.
Analysts noted that disruptions in the Strait of Hormuz continue to drive volatility in global energy markets. Experts said even if hostilities end, restoring normal oil flows could take weeks, prolonging economic pressure on global markets.
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TIPP Staff
