Options traders Serge Marinovich, left, and Phil Phil Fracassini work on the floor of the New York Stock Exchange, Friday, Jun 26, 2026. (Photo: AP/Richard Drew) 09 Jul 2026 01:29AM LONDON: Oil prices briefly soared back above US$80 per barrel while stock markets slid Wednesday (Jul 8) after US President Donald Trump said the ceasefire with Iran was over, following renewed strikes in the Middle East.The latest bout of fighting was sparked by Iranian attacks on ships in the vital Strait of Hormuz shipping route, through which a fifth of the world's oil transited before the war. Trump said at a NATO summit in Türkiye the ceasefire was "over", although he left the door open to more talks.The markets responded, with oil shooting back up again having in recent days come back down towards pre-wa