Skip to footer

business

Oil Jumps as U.S.-Iran Resume Strikes After a Brief Pause

Updated 2 min read

Published by Agyata NewsroomEditorial policyCorrections

Archived — last updated

Oil prices rose sharply amid renewed tensions in the Middle East after Iran launched an attack on U.S. forces using ballistic missiles. The U.S. and Saudi Arabia struck back at Tehran-backed sites in Iraq, further escalating the conflict.

Latest updates

Oil Jumps as U.S.-Iran Resume Strikes After a Brief Pause

Oil prices rose sharply in Asia trading, following renewed tensions in the Middle East after Iran launched an attack on American forces using ballistic missiles. Futures for international benchmark Brent crude for September delivery gained 3.42% to $86.97 a barrel. The U.S. and Saudi Arabia struck back at Tehran-backed sites in Iraq, further escalating the conflict. The attack on U.S. forces was the latest in a series of escalating tensions between Iran and the U.S. The U.S. has imposed sanctions on Iran in response to its nuclear programme, while Iran has threatened to retaliate against U.S. interests in the region. The conflict has raised concerns about the stability of the Middle East and the impact on global oil prices. The U.S. and Saudi Arabia have vowed to protect their interests in the region, while Iran has warned of severe consequences if the U.S. continues to impose sanctions. The situation remains volatile, with both sides trading accusations and threats.

CNBC

Oil Jumps as US-Iran Resume Strikes After Brief Pause

Oil prices have risen sharply amid renewed tensions in the Middle East after Iran launched an attack on US forces using ballistic missiles. The attack has raised concerns about the escalating conflict between Iran and the US. Futures for international benchmark Brent crude for September delivery gained 3.42% to $86.97 a barrel. The US West Texas Intermediate futures for June advanced 3.58% at $82.09 per barrel.

CNBC

Sources

AI-assisted summary of the reporting above. Quotes are kept to one sentence. Copyright concern? See our DMCA takedown page.

Topics