Oil prices soared 7% after Trump's remarks about a U.S. retaliatory strike against Iran

Oil prices surged on Wednesday, July 29, after U.S. President Donald Trump said the country would launch a powerful strike against Iran in response to an attempted attack on U.S. forces in the Middle East, according to CNBC.

Brent crude oil futures rose 6.9% to $89.92 per barrel. U.S. West Texas Intermediate (WTI) crude oil futures rose 6.7% to $84.63.

Trump said on Fox News that Iran “will get what it deserves” after the Islamic Revolutionary Guard Corps fired ballistic missiles at U.S. forces. “We will strike them with full force,” he said.

Iran attacked a U.S. base in Jordan early in the morning on July 29. A statement from U.S. Central Command noted that the missiles were successfully intercepted.

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This article was AI-translated and verified by a human editor