Commodities
US-Iran Escalation Fears Send Oil Prices Soaring
Oil prices climbed to near $90 per barrel as concerns over US-Iran negotiations and Middle East supply security intensified.
The price of Brent crude futures for October traded at $90 per barrel, up 2.6% from the previous close of $87.72.
US President Donald Trump's comments on Monday raised fears of a broader escalation in the region, as he signaled that Washington could pursue military action if talks with Iran fail.
Trump declined to detail next steps in negotiations, saying only 'You'll find out' when asked about potential further action. He also stated that Iran should compensate the US for damage caused over the past 50 years.