US President Donald Trump is coming under increasing international pressure after he pledged in a primetime speech to continue the war on Iran, sparking further turmoil in energy markets, with little sign the Strait of Hormuz will be open soon.

Brent and WTI crude futures soared more than 10% after President Trump said the US would hit Iran "extremely hard" in the weeks ahead.

The price of oil surged while stocks retreated fter U.S. President Donald Trump's address stoked fears the Iran war could be about to get a lot worse.

US President Donald Trump’s address to the nation last night — which offered few details of an exit strategy for the war with Iran — rattled oil traders. Follow for live updates.

West Texas intermediate contracts climbed about 7% to $107.27 a barrel, while Brent crude futures advanced almost 8% to $108.88 a barrel. It comes following mixed messages from Trump over the future of the conflict in the Middle East,

Oil rose more than 7% and world shares fell after President Donald Trump said in his first national address since the Iran war began that the U.S. will continue to hit Iran very hard. Trump also said in his Wednesday night speech that the United States will “finish the job” in Iran soon as “core strategic objectives are nearing

Oil prices climbed and stocks slipped Thursday, after inflammatory remarks by US President Donald Trump and Iranian officials sparked fears that the conflict could still escalate significantly.

The White House promised an “important update” on Iran, in what is set to be the president’s first prime-time address since the U.S. and Israeli assault began.