Oil prices skyrocketed after Trump’s statements

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Lerato Khumalo

Uncertainty in global markets continues after the US and Israel’s attacks on Iran on February 28. The oil price, which tested below 100 dollars in yesterday’s transactions in global markets, started to rise again today after the statements of US President Trump.

The messages Trump gave in his address to the nation, which was eagerly awaited by the markets, increased the geopolitical income and triggered the rise in oil prices.

“The United States has never needed the Strait of Hormuz for oil, we don’t.” “We are about to complete America’s military goals in a very short time. We will hit Iran very hard in the next 2-3 weeks,” Trump said. he said.

An earthquake occurred in the markets, which had experienced limited relief due to the possibility of the war ending in a short time, with Trump’s speech.

The barrel price of Brent oil exceeded 110 dollars, exceeding 10 percent as of 15:29! The price of crude oil also increased by 10 percent.