Oil: Brent crude rises above $105 after Donald Trump’s statements

The price of North Sea Brent crude oil, the international benchmark, rose sharply on Thursday after a televised address by U.S. President Donald Trump, climbing back above $105.

Brent surged more than 4% to $105.55 a barrel around 1:40 GMT, and the WTI barrel, the U.S. benchmark, gained 3% to $103.16, while both had been trending downwards before Donald Trump stated that Iran would be hit “extremely hard” for another two to three weeks.