Frozen copy retrieved 2026-07-08T19:35:00Z for audit 2026-07-08T22-22-31Z. Original URL: https://www.marketplace.org/story/2026/07/08/trump-says-the-usiran-ceasefire-is-over-whats-that-mean-for-prices. The Stochastic Parrot does not host or redistribute; this snapshot exists solely so that quoted spans remain verifiable if the original page changes. Character offsets below index into this plain text; highlighted spans are the quotes cited in the audit.

Trump says the U.S.-Iran ceasefire is "over." What's that mean for prices?

Marketplace · back to the audit

Trump says the U.S.-Iran ceasefire is 'over.' What's that mean for prices?

On Wednesday, at the NATO summit being held in Turkey, President Donald Trump said the ceasefire between the U.S. and Iran is 'over,' but that talks can continue.

Just to recap where things stand: The U.S. said Iran violated a memorandum of understanding when it attacked three tankers in the Strait of Hormuz. So, the U.S. said it launched air strikes against 80 targets in Iran and canceled a waiver allowing Iran to sell oil. Iran said that, plus Israeli attacks on southern Lebanon, were violations. So, Iran targeted 85 U.S. military sites around the Persian Gulf.

In response, oil prices spiked on Wednesday morning. Dan Coatsworth, head of markets at the UK-based investment platform AJ Bell, said: 'just to the point where everyone thought everything seems to be near a resolution, it's like we've torn up the piece of paper, and we're going to start again.'