Commodities
US-Iran Tensions Spark Oil Price Surge
Oil prices surged on Tuesday after the US military said it was conducting more strikes on Iran amid escalating tensions between the two countries.
The WTI crude oil price jumped 5.7% to settle at $90.68 a barrel, its highest level since June 11.
The US Central Command launched strikes against Islamic Revolutionary Guard Corps targets, while Iranian state media said the attacks hit a factory in Qeshm and non-military targets in Hormozgan.
President Donald Trump said the latest strikes were in response to the minelaying attempt and the attack on the Jordan military base.