Iran's Surprise Missile Attack Sends Oil Prices Soaring

Iran launched a surprise missile attack on a U.S. military base in Jordan, breaking a lull in fighting that had lasted for weeks.

The price of Brent Crude futures rose to over $90/barrel in response, with President Trump vowing to retaliate against Iran for the attack.

Benchmark Brent Crude futures had been falling recently, but the attack saw them spike back above $84.09 on Tuesday and then hit a high of over $90/barrel after the attack.

The S&P 500 index has moved in opposite directions to oil prices since the start of the war in Iran on February 28, with the index declining as oil prices rose in early April.