Oil surges 3% as US-Iran attacks escalate, Brent tops $90
Oil prices jumped over 3% in early Asian trading, with Brent crude surpassing $90 a barrel amid rising US-Iran military tensions disrupting Hormuz shipments.
Key Takeaways
AIOil prices surged more than three percent in early Asian trading on Monday, with Brent crude climbing above $90 a barrel as escalating attacks between the United States and Iran in the Middle East disrupted energy shipments passing through the Strait of Hormuz.
Brent futures jumped $2.75, or 3.12 percent, to $90.85 a barrel by 22:02 GMT. US West Texas Intermediate futures rose $2.56, or 3.10 percent, to $85.05 a barrel.