Pakistan, July 9 -- Oil prices surged more than 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 Brent crude oil jumped 6.3% to$78.80 a barrel. U.S. benchmark crude surged 6.4% to $75.00 a barrel. "For me, I think it's over," Trump responded when asked about the status of the ceasefire. "It's just a waste of time dealing with them," he said on the sidelines of the two-day NATO summit in Ankara, Turkey.

Crude prices had declined recently from spikes well above $100 a barrel to around the levels they were at before the w...