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Oil prices jump 6% as Trump says Iran made ‘very big mistake’

NEW YORK: Oil prices jumped on Thursday on rising US-Iran tensions, with gains accelerating on a cryptic tweet by US President Donald Trump after Iranian forces shot down a US spy drone.

File photo of Donald Trump. AFP

New York, June 20

Oil prices jumped on Thursday on rising US-Iran tensions, with gains accelerating on a cryptic tweet by US President Donald Trump after Iranian forces shot down a US spy drone.

“Iran made a very big mistake!” Trump tweeted in his first public reaction to the strike.

Near 1505 GMT, US benchmark West Texas Intermediate climbed 6.3 per cent to USD 57.13 a barrel, while Brent futures in London gained 4.7 per cent to USD 64.69 a barrel. — AFP

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