Crude oil prices rise after Trump declares end to ceasefire with Iran

Crude oil prices rose on Wednesday after United States President Donald Trump declared the ceasefire with Iran over.

Checks by DAILY POST on Wednesday showed that Brent and West Texas Intermediate crude rose by around 4 percent to $77.74 per barrel and $73.52 per barrel, from $72 and $68 per barrel, respectively, on Tuesday.

DAILY POST reports that Trump said the US ceasefire with Iran ended as both countries resumed airstrikes.

Trump further said that he does not want to deal with Iran anymore.

“I think it’s over. I don’t want to deal with them any more; they’re scum,” Trump said.

Recall that in June, the US and Iran had secured a comprehensive ceasefire framework.

DAILY POST reports that the Iran, United, and Israel conflict escalated on February 28th, 2026 leading to a spike in global energy prices.

The latest resurgence in crude oil prices would have a negative impact on domestic petrol prices already easing in Nigeria.

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