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Oil Prices Surge as U.S. and Iran Exchange Strikes
Oil prices climbed in early Asian trade on Monday after the U.S. struck Iran for the first time in over a month, with Iran then retaliating against U.S. bases in Jordan.
AI Summary
Oil prices rose in early Asian trading on Monday after the United States launched its first strike against Iran in more than a month, prompting Iran to retaliate by hitting U.S. bases in Jordan. The conflict caused West Texas Intermediate futures to climb to $85.46 a barrel, a gain of 2.47%, while Brent crude rose 2.71% to $90.49 a barrel. The price movements reflect market reaction to the escalating hostilities between the two nations.
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