Iran's Threats Fuel Oil Price Surge to Six-Week High

Oil prices rose to a six-week high on Monday as Iran vowed to strike energy infrastructure across the Middle East in response to further U.S. attacks on its assets.

The latest escalation in the conflict has sharply reduced oil supply from the region, driving up prices.

Brent crude futures rose $1.03, or 1.1 percent, to settle at $97.31 a barrel, after hitting their highest point since July 24 at $98.06.

Iran's threats have added to concerns about global oil supply, with U.S. inventories already at well below year-ago levels.