Oil prices rise after Trump remarks on Iran ceasefire

Oil prices rise after Trump remarks on Iran ceasefire

Oil prices rose worldwide after Trump suggested ending the ceasefire with Iran during remarks at the Nato summit in Ankara.

Brent crude rose 5.8 percent to $78.43 a barrel.

Global stock markets also recorded marginal losses, with the S&P 500 index down 0.3 percent and the Dow Jones Industrial Average down 1 percent in afternoon trading on Wednesday.

In Europe, the UK's FTSE 100 index closed down 1.66 percent, while the Stoxx 600 fell 1.61 percent.

Germany's DAX lost 2.3 percent and France's CAC fell 2.18 percent at closing.