How Has this Impacted Oil Prices?
Threats of a resumed conflict and potential disruption in the Strait of Hormuz triggered a surge in global crude oil prices, with the benchmark Brent Crude Futures index surging above $79 a barrel, up from around $72 at the start of this week.
Read more Treasury Department Ditches Obama-Era Plans For Harriet Tubman On $20 Bill
How Have Markets Reacted?
U.S. stock futures fell sharply on Wednesday after Trump declared an end to the ceasefire. The benchmark S&P 500 futures dropped more than 1% to 7,472.25 points, while down futures fell 1.3% to 52,506 points. The tech-heavy Nasdaq Futures were also hit hard, dropping 1.5% to 28,941 points. Key indices in Europe and Asia also saw sharp slumps.
Read more U.S. Begins ‘Powerful’ Strikes Against Iran Over Strait Of Hormuz Ship Attacks