5 Big Energy Stories - 7.8.2026: Is the Ceasefire 'Over Over?' Or is it Just Over for Now?
Oil Prices Jump After Trump Says Ceasefire With Iran Is Over - Welp, there’s no other story to begin with today than this one. President Trump says the nominal ceasefire with Iran is over as of July 8 after the IRGC’s latest attack on a ship in the Strait of Hormuz, and oil prices immediately pop on the news. The fear premium is back, at least for now, until the President makes another post on Truth Social. Go fill your gas tank this morning before the gas price pops, too.
"I think it’s over,” the President says in the video below. “I don’t want to deal with them anymore. They’re scum. They’re sick people. They’re led by sick people. And they’re vicious, violent people.”
The question now becomes whether the ceasefire is “over over,” i.e., really over for good, or if it’s just over until the next post on Truth Social? We won’t know that for a while, whether a while means a few hours, a few days, or - God help us - a few months or years.
