US-Iran ceasefire collapses, causing oil market volatility with WTI at $72.25 per barrel. New all-time high by December 31 at 10.5% YES.

The price of Brent crude oil was up by as much as 3% on Wednesday morning to around 76 US dollars a barrel.

Oil prices jumped nearly 6% after the U.S. launched strikes against Iran and Trump declared the ceasefire "over."