Commodities
Brent Crude Jumps Above $90 as US-Iran Tensions Escalate
Brent crude prices surged past $90 per barrel on Monday as renewed military tensions between the US and Iran raised concerns over oil shipments through the Strait of Hormuz.
The international benchmark gained $2.21, or 2.51 percent to $90.31 per barrel during early trading, while U.S. West Texas Intermediate crude advanced $1.83, or 2.19 percent to $85.23 per barrel.
The latest increase followed fresh attacks around the Strait of Hormuz, one of the world's most important energy transportation corridors.
US forces struck two Iranian launchers on Larak Island on Sunday, the first known American attack inside Iran since late July.