Travel stocks plunged as fuel costs rose, United Airlines fell 3 percent, while energy stocks saw gains.Global markets fell, and oil prices surged after United States President Donald Trump lashed out against Iran, saying that the memorandum of understanding signed with Iran to end the conflict was “over” and warning that the US would likely carry out additional strikes on Wednesday night following attacks the previous day.On Wall Street, all major indices opened lower on the heels of the president’s remarks. The Dow is down 0.8 percent, the tech-heavy Nasdaq is down 0.2 percent, and the S&P 500 is down 0.5 percent.Recommended Stories list of 4 itemsend of listThe international benchmark Brent crude is up 4.2 percent to $77.24 a barrel, the highest in two weeks.“We’re going to hit them hard tonight,” Trump told reporters at the NATO summit in Turkiye before his meeting with Ukrainian President Volodymyr Zelenskyy, adding that it “may be a big attack”.Oil prices had been dropping in the last few weeks, down from a $126-a-barrel high in late April, amid a looming deal in mid-June to end the war and allow energy resources to flow through the key Strait of Hormuz, through which roughly a fifth of the world’s oil travels.On the heels of the agreement in June, Trump promised that petrol prices for US consumers would “drop like a rock”, and prices did begin to decline. After a $4.48 per gallon ($1.18 per litre) high in May, prices have now hit $3.79 per gallon ($1.00 per litre), according to the American Automobile Association (AAA), which tracks daily p …
