April 02, (THEWILL) — Global oil prices surged sharply on Thursday after Donald Trump indicated that the United States would continue its military offensive against Iran for another two to three weeks, heightening concerns over extended supply disruptions in the energy market.
In a prime-time national address delivered in the early hours of Thursday, Trump provided an update on ongoing joint U.S. and Israeli military operations against Iran, which have now stretched to 32 days.
His remarks signalled that the conflict may persist longer than previously anticipated, intensifying uncertainty across global commodity markets.
“We are going to finish the job, and we’re going to finish it very fast. We’re getting very close. I can say tonight that we are on track to complete all of America’s military objectives shortly, very shortly,” he said.
Markets reacted immediately. Brent crude futures jumped by $6.33, or 6.3 percent, to settle at $107.49 per barrel, while U.S. benchmark West Texas Intermediate (WTI) crude rose $5.28, or 5.3 percent, to $105.40 per barrel.
The gains reflect growing fears that a prolonged conflict in the Middle East could disrupt oil supply routes, particularly in a region critical to global energy exports.
Analysts note that geopolitical tensions involving Iran, a key player in the global oil market, often trigger sharp price volatility.
The latest surge underscores how sensitive crude prices remain to military developments in the region.
With hostilities showing no immediate signs of easing, traders are bracing for continued volatility in the weeks ahead.
Ogochukwu Onwaeze is a writer specializing in business and economic journalism. At THEWILL News Media, she translates market trends, financial developments, and policy shifts into clear and engaging stories.
