Oil prices spiked in early Asian trade on Tuesday, after the U.S. military launched strikes on targets in southern Iran, reigniting fears of military action just a day after prices had dropped dramatically on promises of a peace deal. At the time of writing, Brent futures had climbed to $98.39 per barrel, up 2.34% on the session after plunging 7% on Monday. WTI futures also climbed, but, as there was no settlement on Memorial Day, they remained 4.98% down from the start of the week at $91.79. U.S. Central Command confirmed the strikes on Iranian…

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