US Strike on Iran Sends Oil Prices Soaring
Oil prices surged more than 2% on Monday after US forces struck Iranian launchers on Larak island in the Strait of Hormuz.
The incident marked the first known American strikes on Iran since late July, sending Brent crude futures climbing $2.22 to $90.32 a barrel by 2202 GMT.
Brent crude futures rose 2.52%, while US West Texas Intermediate crude was up 2.41% at $85.41 a barrel.