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Oil prices surge after Trump vows retaliation for Iranian attack
['Beau Lund']
Blog - Mid-Utah Radio
(Joe Lamberti/Getty Images)(NEW YORK) — Global oil prices surged on Wednesday after an Iranian attack elicited a vow of reprisal from President Donald Trump, ending a brief calm that had renewed hope among investors of a negotiated resolution.
Oil prices account for a large share of the price of auto gasoline.
Oil prices have swung dramatically over recent weeks in response to on-again, off-again fighting.
Last month, oil prices briefly fell to their lowest level since before the war on news that a preliminary peace agreement had been reached.
In turn, worldwide oil prices soared above $100 a barrel.