Commodities
Middle East Tensions Send Oil Prices Soaring
Oil prices surged on Monday to their highest point in months as concerns over potential disruptions to energy supplies continued to escalate.
The price of Brent crude rose 2.8% to $107.54 a barrel, while US West Texas Intermediate (WTI) crude for October delivery gained 2.3% to $102.34 a barrel.
The gains were fueled by renewed security concerns in the Middle East, where Saudi Arabia temporarily shut down its East-West Pipeline following drone attacks.
An Iranian commercial vessel was also attacked in the Strait of Hormuz on Sunday, killing one person, according to Iranian television.