US-Iran Tensions Send Oil Prices Soaring

Oil prices have surged after US attacks on Iranian tankers and Tehran's threat of a new restricted zone outside the Strait of Hormuz, raising concerns about prolonged disruptions to energy flows through the waterway.

Brent traded near $97 a barrel, while West Texas Intermediate was around $92. European natural gas prices rose as much as 4.2% in thin trading.

The US said it launched strikes against three Iranian oil tankers over the weekend, destroying one, in retaliation for ballistic missile attacks on US Navy warships.

In response, Iran's top security official said a new restricted zone outside of Hormuz will be declared in the coming days, beginning at the US Navy blockade line and extending into parts of the Gulf, Press TV reported.