President Trump on Wednesday said he considers the ceasefire with Iran over and that while negotiations can continue, they are a "waste of time." Why it matters: Three weeks after the U.S. and Iran signed a peace deal that Trump described as "unconditional surrender," both sides are launching fresh attacks and any sense of calm in the region has evaporated almost entirely.Driving the news: The comments came just hours after the U.S. conducted a new round of strikes on Iran, retaliation for renewed Iranian attacks on commercial ships in the Strait of Hormuz. What they're saying: "To me, I think it's over," Trump said when asked about the ceasefire at the NATO summit in Turkey."I don't want to deal with them anymore. They're scum," Trump said."As far as I'm concerned, it's just a waste of time dealing with them." By the numbers: The price of oil skyrocketed after Trump's comments, with the global benchmark Brent crude jumping 6% to nearly $79 in morning trading.At those levels, it's back above pre-war prices after dipping just below.As part of the response to the latest Hormuz attacks, the U.S. also revoked a general license allowing the sale of Iranian oil, throwing more uncertainty into global supply.Editor's note: This is breaking news and will be updated.