Global oil prices rose sharply on Friday after the President of the United States Donald Trump declared that only the unconditional surrender of Iran would bring an end to the escalating conflict in the Middle East.
The remarks came as fresh military actions were reported in the region, increasing fears of disruptions to global energy supplies and pushing crude oil prices higher in international markets.
The international benchmark Brent North Sea crude surged by more than five percent, reaching about 90.25 dollars per barrel. This marks the highest level recorded since April 2024 and reflects growing concern among investors about the potential impact of the conflict on global oil supply.
At the same time the United States benchmark West Texas Intermediate also climbed strongly, rising more than eight percent to around 87.56 dollars per barrel. The surge highlights the sensitivity of energy markets to geopolitical tensions in the Middle East, a region responsible for a significant portion of global oil production.
Market analysts say the situation has raised fears that the conflict could disrupt oil shipments through major routes such as the Strait of Hormuz, a key channel through which a large share of the world oil supply passes.
President Trump made the comments through a public statement in which he said there would be no deal with Iran except unconditional surrender. His statement came amid rising tensions involving Iran, Israel and the United States.
Energy experts warn that if the conflict continues or spreads further across the region it could lead to additional price increases and create economic pressure on countries that rely heavily on imported fuel.
The recent surge in oil prices has also triggered concerns about inflation and higher transportation and energy costs in many parts of the world.
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