Oil jumps 2% as Iran tensions rise; US stock futures dip

  • U.S. forces struck two Iranian launchers on Larak island in the Strait of Hormuz.
  • Brent futures rose $2.22, or 2.52%, to $90.32 a barrel.
  • The operation was the first known American strike on Iran since late July.

Oil prices climbed more than 2% in Asia trading after U.S. forces struck two Iranian launchers on Iran’s Larak island in the Strait of Hormuz. Brent crude futures rose $2.22, or 2.52%, to $90.32 a barrel by 2202 GMT, while U.S. West Texas Intermediate gained $2.01, or 2.41%, to $85.41. The Sunday operation was the first known American strike on Iran since late July. The attack ended weeks of relative calm in the region. The dollar held recent gains after hawkish comments from Federal Reserve Chair Kevin Warsh, while S&P 500 futures edged lower after the index closed 0.3% down on Friday.

The information on this website is generated using AI and we cannot guarantee its accuracy. Please use it as reference information only.