Oil Prices Jump Following US Strikes on Iran
Oil prices rose over two percent on Monday after United States forces attacked an Iranian island. The strike and subsequent retaliation further delay reopening the Strait of Hormuz.
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Brent Crude Oil jumped 2.51% to $90.31 a barrel on Monday morning after the United States attacked an island belonging to Iran in the Strait of Hormuz. The strike pushed oil prices higher as the bilateral conflict entered its sixth month with shipping traffic slowing down. The escalation threatens global energy supplies passing through the vital maritime trade corridor.
