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The president was asked about the ceasefire after an escalation of fighting in the Middle East.
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;Resize=(620)) The price for a barrel of Brent crude oil, the international standard, rose to about $79 US on Wednesday following the resumption of strikes in the Middle East. Major U.S. indexes also followed global markets on a downward trajectory.
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Crude oil prices jumped and stock prices fell after President Trump declared an end to the ceasefire with Iran, adding fresh uncertainty to an already shaky outlook for the global economy.
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The price of oil surged more than 6% on Wednesday after President Donald Trump said that the ceasefire deal with Iran was "over" after the two countries trades strikes following attacks on three oil tankers near the Strait of Hormuz.
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President Trump said he believes the current ceasefire with Iran is over following an exchange of attacks between the U.S. and Iran in the latest escalation straining the agreement to end the war.
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Treasury yields surged after President Donald Trump told the NATO summit that the ceasefire with Iran is over.
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