World oil prices soared more than five percent Wednesday after US President Donald Trump said the ceasefire with Iran was over, following fresh strikes in the Middle East.
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International benchmark Brent North Sea crude jumped 5.3 percent to $78.09 a barrel, while the main US contract, West Texas Intermediate, advanced 5.4 percent to $74.23 a barrel.
The US has launched extensive strikes on Iran following attacks on ships in the Strait of Hormuz, triggering a wave of reprisals against American bases in the Gulf.
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