LONDON: Oil prices briefly soared back above US$80 per barrel while stock markets slid Wednesday (Jul 8) after US President Donald Trump said the ceasefire with Iran was over, followi

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.

Brent crude jumped 6.2 per cent to US$78.74 a barrel as at 5pm Singapore time. Read more at straitstimes.com. Read more at straitstimes.com.

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