Oil Prices Soar as Tensions Escalate with Iran and Trump Makes Wild Investment Claims

Oil prices reached a six-week high on Monday after the US and Iran traded strikes over the weekend, escalating tensions in the Middle East. Brent crude oil futures rose 1.3% to $97.52 per barrel, with prices reaching as high as $97.93 a barrel at one point since July 23.

Meanwhile, President Donald Trump took to Truth Social on Sunday to share a series of claims and AI-generated images, including stating that he has made hundreds of billions of dollars on stocks and other holdings for the US.

In another post, Trump targeted Canadian company Bombardier, accusing them of relying too heavily on American buyers and revenue. He claimed that over 50% of their revenue comes from the US and vowed to take action against the company.