Global Oil Prices Surge 5.8% Following Trump's Remark That "End-of-War MOU Seems Over"

Global oil prices have surged following remarks by U.S. President Donald Trump suggesting that the memorandum of understanding (MOU) on ending the war with Iran appears to be over.

According to AFP and AP, Brent crude rose 5.3% from the previous session to $78.09 per barrel as of the morning of July 8, local time.

West Texas Intermediate (WTI) is trading at $74.55 per barrel, up 5.8%.

Foreign media reported that President Trump made the comment that the end-of-war MOU "seems to be over" during a meeting with NATO Secretary General Mark Rutte on the sidelines of the NATO summit held in Ankara, Türkiye, on the same day.

Previously, the U.S. Central Command conducted airstrikes on approximately 80 targets within Iran in response to Iran's attack on oil tankers passing through the Strait of Hormuz the previous day. In retaliation, Iran struck 85 U.S. military facilities located in countries including Kuwait and Bahrain.

(Photo: Yonhap News)
※ Please note: This article was translated by AI and may contain errors.