Crude oil prices jumped more than 2% on Tuesday following U.S. President Donald Trump's abrupt cancellation of all meetings with Iranian officials and his public pledge to support anti-government protesters amid a violent crackdown in Iran.

U.S. West Texas Intermediate (WTI) crude rose $1.65 (2.77%) to settle at $61.15 per barrel, while global benchmark Brent crude gained $1.60 (2.51%) to close at $65.47 per barrel.

The rally was triggered by Trump's statement on Truth Social, in which he addressed Iranian demonstrators directly: "Iranian Patriots, KEEP PROTESTING - TAKE OVER YOUR INSTITUTIONS!!! ... I have cancelled all meetings with Iranian Officials until the senseless killing of protesters STOPS. HELP IS ON ITS WAY."

The escalation comes as Iran's security forces have reportedly killed hundreds of protesters during widespread unrest, with internet access severely restricted across the country. As a major OPEC producer, Iran’s stability is critical to global oil supply, and markets are now pricing in increased geopolitical risk that could potentially disrupt exports.

The price move reflects growing concern that heightened U.S.-Iran tensions and internal turmoil could lead to supply shocks, reinforcing oil's sensitivity to Middle Eastern political developments.