Crude oil prices jump 6%, hit two-week high after Trump says Iran peace deal is ‘over’. What are experts saying?

Brent crude jumped 6.09% to $78.66 a barrel and WTI gained 6% to $74.65, hitting two-week highs after US President Trump declared the Iran peace deal 'over', escalating geopolitical tensions. The rally follows US strikes on Iran and renewed sanctions on Iranian crude sales, raising concerns over shipping through the Strait of Hormuz, which carries about one-fifth of global energy supply. Analysts warned that restoring normal flows would require coordinated de-mining and infrastructure repairs, with Saudi Aramco's CEO cautioning that prolonged disruption could affect nearly 100 million barrels of weekly supply.