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Oil rises over 3% as US, Iran resumes military attacks

World News

31-08-2026 | 07:12

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Oil rises over 3% as US, Iran resumes military attacks

Oil prices rose more than 3.5% on Monday after the U.S. attacked an Iranian island in the Strait of Hormuz and Tehran said it had retaliated, as their conflict extended into its sixth month.

Brent crude futures were up $3.15, or 3.58%, to $91.25 a barrel at 0903 GMT, while U.S. West Texas Intermediate crude was up $2.96, or 3.55%, to $86.36.

U.S. forces struck two launchers on Iran's Larak Island in the Strait of Hormuz on Sunday, the first known American strikes on the ⁠country since late July.

Reuters

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