Commodities
US-Saudi Strikes Send Oil Prices Soaring
Oil prices surged on Wednesday following joint strikes by the US and Saudi Arabia in Iraq, as well as the interception of Iran's ballistic missiles aimed at US forces in the Middle East.
Brent futures rose $3.30, or 3.9%, to $87.39 a barrel, while US West Texas Intermediate (WTI) crude increased by $3.05, or 3.8%, to $82.31 a barrel.
The uptick in oil prices comes after the US intercepted a surprise attack on its troops, and Saudi Arabia intercepted drones from Iranian-backed groups targeting Saudi energy infrastructure.
US and Saudi forces launched strikes against weapon sites across eastern Iraq, further escalating tensions in the region.