Oil prices surged amid volatile trading after U.S. President Donald Trump warned of further military action against Iran within the next two to three weeks, raising concerns about prolonged conflict.

U.S. West Texas Intermediate and Brent crude both rose sharply as markets reacted to the prospect of continued instability.

Trump also claimed Iran was responsible for attacks on oil tankers, while reiterating that the U.S. would “finish the job” quickly, though diplomatic talks remain uncertain.

The ongoing conflict has severely disrupted shipping through the Strait of Hormuz, a critical global oil route, contributing to supply fears, CNBC has reported.

Analysts say the uncertainty is driving investor caution as hopes for de-escalation weaken.