A market survey on Saturday morning showed that Brent crude and West Texas Intermediate, WTI, rose by 3.82 per cent and 3.14 per cent to $116 per barrel and $103 per barrel, respectively.
DAILY POST reports that Trump said on Friday that the US might carry out another military operation against Iran.
“We may do another little Epic Fury,” Trump told a rally in Florida, US.
His remarks countered his earlier comments that the war in Iran might end soon, which had led to a short-lived easing of oil prices before the latest surge.
DAILY POST recalls that the war, which escalated in February 2026, is approaching its eighth month, while rising fuel prices are weighing on the US economy ahead of the November midterm elections.
Outside the US, many economies across the world have been affected by the Iran war, further worsening the impact of the years-long Russia-Ukraine war.
In Nigeria, domestic petroleum product prices have skyrocketed, pushing up the cost of living for millions of Nigerians.
While the Nigerian government benefits from increased crude oil revenue, domestic petroleum product prices continue to put pressure on Nigerians.
