Oil prices rise sharply after Iran launches attacks on tankers near strait of Hormuz

According to The Guardian, oil prices jumped sharply on Wednesday after a series of attacks on tankers near the strait of Hormuz prompted Donald Trump to declare that the ceasefire deal with Iran was over. Brent crude, the global benchmark, rose about five percent to more than seventy-eight dollars a barrel, its steepest climb in nearly two months and the highest level since the United States and Iran agreed to the ceasefire last month while negotiating an end to the war.

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