Commodities
US Strike on Iranian Rocket Launchers Sends Oil Prices Soaring
Asian and US stock markets took a hit on Monday following the US military's strike on Iranian rocket launchers in the Strait of Hormuz.
The attack, which marked a return to open conflict after the Trump administration shifted its focus to economic pressure just days earlier, sent oil prices soaring.
Brent crude, the international standard, rose 2.9% to $90.61 per barrel, while US benchmark crude oil jumped 2.7% to $85.66 per barrel.
The move has raised concerns about the stability of the region and potential risks for global markets.