Oil prices have surged more than 6% after U.S. President Donald Trump said the interim agreement with Iran is “over,” though he will allow talks to continue.

The price of oil surged more than 6% on Wednesday after President Donald Trump said that the ceasefire deal with Iran was “over” after the two countries trades strikes following attacks on three oil tankers near the Strait of Hormuz.

Attacks on ships in the Strait of Hormuz sparked a new cycle of retaliation that could throttle the flow of energy from the region.

Oil prices rose sharply on Wednesday following renewed US attacks on Iran. A barrel (159 litres) of benchmark Brent Crude for delivery in August rose by 2.

Oil prices jumped more than 3% after reports that two tankers transiting the Strait of Hormuz had been hit by unknown projectiles.

A series of attacks in the Strait of Hormuz sent Brent crude and West Texas Intermediate prices higher Tuesday.

Oil prices rose, and stock markets dropped in shaky trading worldwide after President Donald Trump raised doubts about the temporary truce in the war with Iran. The S&P 500 fell 0.3% Wednesday after sinking as much as 1.

After several weeks of declining gas prices, Ohio drivers are once again seeing higher prices at the pump. According to AAA East Central, the statewide average for regular gasoline is now $3.70 per

CNBC's Pippa Stevens reports on why oil prices are rising after the U.S. Treasury Department revoked its authorization of Iranian oil sales after a series of attacks on tankers in the Strait of Hormuz this week.

Oil prices edged higher after an American official said the U.S. and Iran had agreed to halt attacks in a key shipping lane, raising hopes that hostilities would not escalate.

By Harry Robertson and Rodrigo Campos LONDON/NEW YORK, June 29 (Reuters) - A global gauge of stock markets rose on Monday as investors tracked the implementation of an interim peace deal between Iran and the U.

Brent crude dips slightly below $78 a barrel; most Asian stock markets bounce back