Oil prices climb sharply as reports say President Donald Trump is considering renewed large-scale U.S. strikes on Iran in the coming weeks. Several outlets link the move in crude to shifting expectations about Middle East supply disruptions, with Brent crude reported above $105 a barrel and trading gains also noted for near-term contracts.
Equity markets slide as investors react to higher energy costs and renewed inflation concerns. NBC News, IOL, and Euronews describe stock losses alongside the oil jump, while Quartz and IOL specifically tie the escalation to the political calendar, saying the White House has asked the Pentagon to prepare strike options ahead of the U.S. midterm elections.
Other coverage emphasizes the market volatility rather than a one-way move. Al Jazeera reports that oil prices fluctuate on the Iran-war outlook and possible responses such as the release of reserves, while stocks move accordingly. Moneyweb similarly frames the oil increase as driven by the report that strikes could be ordered before midterms, with Brent rising during the trading day.
