Oil prices jump 5% after Trump says deal with Iran is over

World oil prices soar more than five percent after US President Donald Trump says the memorandum of understanding with Iran is over, following fresh strikes in the Middle East.

International benchmark Brent Crude jumps 5.3 percent to $78.09 a barrel, while the main US contract, West Texas Intermediate, advances 5.4 percent to $74.23 a barrel.

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