Oil Price Surge Shows Markets Were Too Relaxed About Iran Deal

Wednesday’s jump in oil prices to a two-week high suggests that market participants were too complacent about the U.S.-Iran ‘deal to make a deal’ and that the ceasefire would hold and oil flows through the Strait of Hormuz would only increase, analysts at ING said on Thursday. Oil prices surged by over 5% on Wednesday, gaining 7% at one point to a two-week high, after the escalation in the region. The Iranian attacks on three commercial ships on Tuesday, including an oil tanker and an LNG carrier, have prompted some… Oil Price Surge Shows Markets Were Too Relaxed About Iran Deal By Tsvetana Paraskova - Jul 09, 2026, 4:20 AM CDT