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Oil Prices Surge as Trump Vows Retaliation for Iranian Missile Attack

Oil Prices Surge as Trump Vows Retaliation for Iranian Missile Attack

ABC News·30 July 2026

Global oil prices jumped nearly 8% to over $90/barrel and stock markets plunged after Iran launched ballistic missiles at U.S. forces in the Middle East, prompting President Trump to vow a forceful military response. This escalating U.S.-Iran conflict, disrupting Strait of Hormuz shipping and driving inflation, reflects the "wars and rumors of wars" and economic distress Jesus described as signs of the end times. Gas prices have risen 37% since war broke out, illustrating how regional conflict in the Middle East ripples through global economies as prophesied birth pains intensify.