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    Oil prices rise over 7% as Trump speech leads to uncertainty on Iran war

    MarketWatchApril 2, 2026 at 9:37 AMBearish1 min read

    Key Takeaways

    • 1Oil prices increased by more than 7%.
    • 2The rise is linked to uncertainty stemming from former President Trump's speech concerning Iran.

    Market Pulse

    DIRECT HIT

    Will global oil benchmarks (Brent/WTI) stay below $95 for the remainder of 2026?

    Predictagon
    Yes 55%No 45%
    DIRECT HIT

    Will a formal ceasefire framework be signed in a major active conflict zone by Q3 2026, leading to global oil benchmarks staying below $95 for the remainder of 2026?

    Predictagon
    Yes 30%No 70%
    DIRECT HIT

    Will WTI crude oil prices remain above $70 per barrel for the next year?

    Predictagon
    Yes 70%No 30%
    Ends: 2/5/2027
    View on Predictagon

    Oil prices surged over 7% following former President Trump's speech, which introduced geopolitical uncertainty regarding potential conflict with Iran. This spike reflects investor concern over supply disruptions in the Middle East, a critical oil-producing region. Traders will be closely monitoring further political rhetoric and any escalation of tensions, as sustained price increases could impact global economic growth and inflation.

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