Oil prices jump after renewed attacks between US, Iran

descriptions off, selected

captions settings, opens captions settings dialog

captions off, selected

This is a modal window.

Beginning of dialog window. Escape will cancel and close the window.

End of dialog window.

Iran's economy in free fall as U.S. sanctions fuel pressure to negotiate

Iran's economy in free fall as U.S. sanctions fuel pressure to negotiate

Crude oil prices jumped on Monday after the U.S. attacked Iran’s Larak Island, prompting Iran to retaliate, the first known military action from either country after weeks of stalemate.

Futures for Brent crude, the international benchmark, for September rose 3.4 percent to trade at $91.09 per barrel early Monday morning, after seeing a sharp fall last week. West Texas Intermediate futures also rose 3.4 percent, with trading at $86.22 per barrel.

“The Middle East had finally gone quiet enough for oil traders to start sanding some of the war premium out of crude,” Stephen Innes of SPI Asset Management said, according to The Associated Press. “Then Sunday arrived, with a reminder that quiet in........

© The Hill