safety
Oil prices rise 7%, and stocks drop worldwide after Trump says ceasefire with Iran is 'over'
By Star Tribune
· July 8, 2026
· 1 min read
Oil prices are rising, and stock markets are dropping worldwide Wednesday after President Donald Trump raised doubts about the temporary truce in the war with Iran.
Why this matters in The Minneapolis
For Minneapolis residents, the spike in oil prices could have a direct impact on their daily commutes and household budgets. As a major metropolitan area with a significant number of commuters, the Twin Cities may see an increase in gas prices, affecting the cost of driving to work, school, and other activities. This could also have a ripple effect on the local economy, as businesses that rely on transportation, such as trucking and delivery services, may face higher operating costs. Additionally, the potential for continued instability in the global market could influence the decisions of local businesses and investors, making it a concern for the Minneapolis community to watch how the situation unfolds and its potential effects on the local economy.
About this story
Original reporting by Star Tribune . The Minneapolis 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 Star Tribune . Have a tip or correction? Contact our newsroom .
Category: safety ·
Published: July 8, 2026 ·
Source: Star Tribune ·
Reading time: 1 min
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Frequently asked about this story
What is this story about? Oil prices are rising, and stock markets are dropping worldwide Wednesday after President Donald Trump raised doubts about the temporary truce in the war with Iran.
When was this published? This article was first published on July 8, 2026 by Star Tribune and curated for The Minneapolis readers.
Who reported this story? This story was reported by Star Tribune. To learn more about how The Minneapolis selects and reviews stories, see our editorial standards .
Where can I find related coverage? See more safety coverage from The Minneapolis, or browse our daily briefing and topic hubs .
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