US Strikes on Iran Send Oil Prices Soaring Above $90

Oil prices surged more than 2% on Monday after a US attack on Iranian launchers in the Strait of Hormuz.

The Brent crude futures rose $2.22, or 2.52%, to $90.32 a barrel by 2202 GMT, while U.S. West Texas Intermediate crude was at $85.41 a barrel, up $2.01, or 2.41%.

The attack on Iran's Larak island marked the first known American strikes on the Gulf nation since late July, according to Reuters.