Oil Prices Surge Toward $80 as Trump Ends US-Iran Ceasefire

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Global crude oil prices climbed sharply toward $80 per barrel after US President Donald Trump announced that the ceasefire with Iran had ended. The United States carried out fresh military strikes on Iranian targets, stoking fears of significant disruptions to regional oil supplies. Maritime authorities responded by raising the threat level for ships passing through the Strait of Hormuz, a critical oil transit route. The escalating tensions between Washington and Tehran have reignited concerns about rising inflation and the possibility of further interest rate increases.

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