Washington:Global energy prices experienced an increase on Thursday following statements made by US President Donald Trump, indicating that the United States no longer requires an agreement with Iran.

According to Anadolu Agency – English, President Trump asserted that the need for a deal with Iran is obsolete, stating, "We don't need a deal with Iran. Those days have long since passed."

In response to Trump's comments, European natural gas prices surged by 10.3% to £95.6 ($105.7) per megawatt-hour, marking a 2.15% gain for the week. Meanwhile, the international benchmark Brent crude saw a 3.6% rise to $96 per barrel, despite remaining 4.9% lower for the week. The US benchmark, West Texas Intermediate (WTI) crude, also climbed 2.9% to $89 per barrel, although it reflected a 4.5% decrease on a weekly basis.

President Trump also noted that Washington has secured Iranian financial assets and control over the Strait of Hormuz, a crucial global energy shipping route that has historically been a point of contention between Iran and the US. His comments highlighted the strategic importance of the Strait, emphasizing its impact on international oil markets.