Iran Threatens Middle East Energy Infrastructure Amid US-Iran Conflict

Oil prices surged to six-week highs on Monday after Iran threatened to attack energy infrastructure across the Middle East if Washington launched further strikes on Iranian assets.

Brent crude futures reached $98.06 a barrel, their highest since July 24, before settling at $97.31, up $1.03, or 1.1%.

The US Labor Day holiday brought settlement forward by about an hour to 1:30pm Eastern Daylight Time, or 5:30pm GMT.

Iranian Parliament Speaker Mohammad Baqer Qalibaf warned that if the US strikes Iranian assets, 'you get struck', echoing Defence Secretary Pete Hegseth's statement that Iran's oil fleet is 'defenseless'.