Oil Prices Soar as Tensions Rise Between US and Iran

Oil prices rose nearly 1% in early trade on Wednesday, extending the previous session's surge as concerns over supply disruption intensified after the US and Iran exchanged strikes overnight.

The Brent crude futures rose 87 cents, or 0.92%, to $95.52 a barrel, while U.S. West Texas Intermediate crude futures climbed 80 cents, or 0.89%, to $91.02.

Gold held its decline as attacks in the Middle East and a global bond selloff ratcheted up bets that the Federal Reserve may need to raise interest rates to rein in inflation.