Commodities
Oil Prices Soar as US-Iran Tensions Escalate Again
Oil prices surged on Tuesday as renewed US-Iran tensions sparked concerns about supply disruptions from the world's key oil-producing region.
The price of Brent crude futures rose $1.72, or 1.9%, to $92.21 a barrel by 10:46 GMT, while US West Texas Intermediate crude climbed $2.12, or 2.47%, to $87.88 a barrel.
The escalation in tensions followed the first direct exchange of attacks between the two countries since late July, with US President Donald Trump threatening further strikes against Iran on Monday.
Iranian President Masoud Pezeshkian warned that his country would respond immediately if the United States returned to its commitments under the temporary peace agreement signed in June.