The price of Brent crude oil, the international reference for crude oil, surged past $105 per barrel early this morning, marking a significant rebound. The increase followed the public address of the US President at around 04:40 Cyprus time, after prices had fallen sharply shortly before the speech.
Brent crude rose over 4% to $105.55 per barrel, while the WTI crude oil climbed 3% to $103.16 per barrel, reflecting market reactions to potential geopolitical risks and comments made by the US President regarding international tensions.
The sudden shift highlights the sensitivity of global oil markets to political statements and underscores the volatility that can affect energy prices worldwide.
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