Commodities
Oil Prices Soar on Renewed US-Iran Tensions
Oil prices surged over 2% on Tuesday as renewed US-Iran tensions sparked fears of supply disruptions from the oil-producing region.
The Brent crude futures rose $2.17, or 2.4%, to $92.66 a barrel by 1302 GMT, while US West Texas Intermediate crude climbed $2.48, or 2.89%, to $88.24.
The price hike came after the first direct attacks between the two countries since late July, with US President Donald Trump threatening further strikes against Iran.
'The tit-for-tat missile exchanges between the U.S. and Iran bring validation to those who believe that even if not a 'forever war', this conflict will run and run,' said PVM analyst John Evans.