Oil prices jump 3% after Trump threat against Iran
By the AFREEQUE newsroom, based on Daily Post
Global oil prices rose by 3.82% for Brent and 3.14% for WTI, reaching $116 and $103 a barrel respectively. The increase followed Donald Trump’s threat to launch a new military operation against Iran, the Daily Post reports.
Global crude oil prices rose on Saturday, 24 October, after US President Donald Trump referred on Friday to a new military operation against Iran, the Nigerian media outlet Daily Post reports. Brent gained 3.82% to $116 a barrel and West Texas Intermediate (WTI) rose 3.14% to $103, according to a market survey published on Saturday morning.
Donald Trump said at a rally in Florida that the United States could launch another operation called “Epic Fury”. The threat reversed a temporary decline in prices caused by his earlier statements that the war in Iran could soon end.
The conflict, which intensified in February 2026, is approaching its eighth month. Rising fuel prices are weighing on the US economy a few weeks before November’s midterm elections. In Nigeria, the prices of petroleum products have risen sharply, increasing the cost of living despite the higher revenue the country is earning from its crude oil exports.
Donald Trump’s latest threat follows a series of US statements on Iran, after he referred to a new attack on the country, according to an article published on 23 October.
