Commodities
US-Iran Tensions Fuel Fresh Oil Price Spike
Oil prices surged on Tuesday as renewed fighting between the United States and Iran heightened fears of supply disruptions from the Middle East.
The Brent crude futures rose by $1.05, or 1.2 percent, to $91.54 a barrel at 0455 GMT, while US West Texas Intermediate crude increased by $1.27, or 1.5 percent, to $87.03.
The gains followed a strong session on Monday when Brent settled 2.7 percent higher after briefly hitting its highest level since August 25.
US President Donald Trump's warning of further strikes on Iran brought the potential for Iranian retaliation back into the equation, said Tim Waterer, chief market analyst at KCM.