safety
Oil prices jump nearly 6% after Trump says ceasefire with Iran is 'over'
By Elaine Kurtenbach, Associated Press at KSAT 12 (ABC affiliate)
· July 8, 2026
· 4 min read
Oil prices surged nearly 6% after U.S. President Donald Trump said Wednesday that the interim agreement with Iran is “over,” though he will allow talks to continue. Trump made the comments following U.S. strikes on Iran in reaction to attacks on three ships in the Strait of Hormuz. The price of B...
Key takeaway President Donald Trump said Wednesday that the interim agreement with Iran is “over,” though he will allow talks to continue.
Why this matters in The San Antonio
San Antonio 's economy, with its significant military presence and thriving energy sector, is likely to feel the effects of the US strikes on Iran and the subsequent surge in oil prices. As a major hub for the oil and gas industry, San Antonio's businesses and residents may see increased costs for fuel and other petroleum products. This could have a ripple effect on the local economy, impacting everything from transportation costs to consumer spending. Additionally, the city's proximity to major oil refineries and pipelines in the Gulf Coast region means that any disruption to oil supplies or prices could have significant implications for San Antonio's energy industry. As the situation continues to unfold, San Antonio residents and businesses will be watching closely to see how the conflict and resulting oil price volatility affect the local economy.
About this story
Original reporting by KSAT 12 (ABC affiliate) . The San Antonio surfaces reporting from trusted publishers and adds local editorial context so readers can quickly understand what a story means for their community. We attribute every source, link to the original report, and follow a documented editorial standards policy. To understand how stories are selected and reviewed, read our about page .
For the complete original report, visit KSAT 12 (ABC affiliate) . Have a tip or correction? Contact our newsroom .
Category: safety ·
Published: July 8, 2026 ·
Source: KSAT 12 (ABC affiliate) ·
Reading time: 4 min
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Frequently asked about this story
What is this story about? Oil prices surged nearly 6% after U.S. President Donald Trump said Wednesday that the interim agreement with Iran is “over,” though he will allow talks to continue. Trump made the comments following U.S. strikes on Iran in reaction to attacks on three ships in the Strait of Hormuz. The price of B...
When was this published? This article was first published on July 8, 2026 by KSAT 12 (ABC affiliate) and curated for The San Antonio readers.
Who reported this story? This story was reported by Elaine Kurtenbach, Associated Press at KSAT 12 (ABC affiliate). To learn more about how The San Antonio selects and reviews stories, see our editorial standards .
Where can I find related coverage? See more safety coverage from The San Antonio, or browse our daily briefing and topic hubs .
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