Oil prices surged sharply following Trump's statements

World oil prices surged sharply following a statement by U.S. President Donald Trump on the resumption of a naval blockade of Iran.

This was reported by Interfax.

The price of October Brent crude futures on the ICE exchange rose by 4.5% to $79.44 per barrel. During trading, quotes exceeded the $80 per barrel mark for the first time in nearly a month.

WTI crude futures for August delivery increased by 4.45% to $74.59 per barrel.

The price surge followed Trump's post on Truth Social, in which he announced the resumption of the blockade. According to him, the restrictions will apply only to Iranian vessels and their clients, while the Strait of Hormuz will remain open for all other countries.