Oil prices rise 3 per cent as Trump says Iran ceasefire ‘on life support’

Oil prices climbed more than 3% after President Trump said the Iran ceasefire was "on life support," with the Strait of Hormuz still largely closed and no clear end to the conflict. The news raises immediate supply risk for global crude markets and broader commodity flows. This is a market-wide geopolitical shock with likely spillover into energy equities, inflation expectations, and transport costs.

Analysis

Oil prices climbed more than 3% after President Trump said the Iran ceasefire was "on life support," with the Strait of Hormuz still largely closed and no clear end to the conflict. The news raises immediate supply risk for global crude markets and broader commodity flows. This is a market-wide geopolitical shock with likely spillover into energy equities, inflation expectations, and transport costs.