Oil prices climbed and stocks tumbled in early trading on Wednesday after President Donald Trump said he thinks an agreement with Iran is "over" amid Middle East strikes.

Brent crude futures were a long way below the war's peak prices but rose enough to wobble the bond market by increasing inflation risks.

July 8 : Oil prices jumped more than 5 per cent on Wednesday, hitting a two-week high after U.S. President Donald Trump said the memorandum of understanding to end the conflict…

On Wednesday morning, U.S. stock futures took a significant hit as President Donald Trump declared the memorandum of understanding with Iran null and void. This announcement…

Crude oil prices spike over 6% after Trump declares the ceasefire with Iran "over," raising geopolitical tensions.