Oil Jumps 5% After Trump Declares Iran Ceasefire Over; U.S. Officials Say Talks Continue
Al Arabiya—Oil prices surged five percent after President Trump publicly declared the ceasefire with Iran was over, triggering immediate market volatility on fears of renewed large-scale military action. Despite the announcement, U.S. officials quickly confirmed that technical talks with Tehran would continue, suggesting the declaration may have been rhetorical pressure rather than a definitive policy shift. The mixed signals left energy markets and allied governments uncertain about U.S. intentions, with prices remaining elevated even after the clarification. Traders are watching for any sign that the formal diplomatic track has truly collapsed or is being renegotiated under new terms.