US oil prices jump on US-Iran hostilities
AI Summary
US oil prices have surged in response to escalating hostilities with Iran, with prices for West Texas Intermediate rising over 3%. This increase reflects market reactions to geopolitical tensions affecting oil supply.
West Texas Intermediate oil prices initially gained more than 3% and were trading up 2.50% or $2.37, at $97.18 a barrel, as of 2215 GMT.
Markets Commodities Energy oil prices Iran West Texas Intermediate market reaction geopolitical tensions