Oil Prices Surge 6% After Trump Says Ceasefire Is ‘Over’

BANGKOK (AP) — Oil prices have surged about 6% after U.S. President Donald Trump said the interim agreement with Iran is “over,” though he will allow talks to continue. Trump made the comments following U.S. strikes on Iran in reaction to attacks on three ships in the Strait of Hormuz. The price of Brent crude oil jumped 5.4% to more than $78 a barrel. In other trading Wednesday, stocks in South Korea dipped 5.4% following a retreat on Wall Street as the AI roller-coaster took tech shares sharply lower. AI stocks worldwide have been swinging because of worries their prices have shot too high.