Oil Jumps 7% as Trump Threatens Iran Hours Before Fed Decision The sudden surge in oil prices has injected uncertainty into the market just hours before the Federal Reserve's interest rate decision.
The 7% jump in crude prices is a stark reminder that ongoing tensions between the US and Iran remain unresolved, and their impact on global markets cannot be overstated.
President Trump's warnings to Iran have reignited fears of renewed hostilities, coinciding with Houthi rebels' threats to impose fees on commercial shipping through the Bab el Mandeb Strait.