Oil prices soar 10% as Trump’s Iran war speech stokes fears of further escalation

Oil surged 10% Thursday as U.S. President Donald Trump warned of further military aggression against Iran in the next two to three weeks, dampening hopes for an imminent de-escalation in the conflict. U.S. West Texas Intermediate crude futures for May were up 10% at $110.21 a barrel as of 8:13 a.m. ET. June futures for international benchmark Brent crude rose 8% to $109.25 per barrel. Trump in his speech attributed the increase in oil prices to the “Iranian regime launching deranged terror attacks against commercial oil tankers and neighboring countries that have nothing to do with the conflict.” He said...