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Oil jumps more than 2% after US attack on Iran's Larak island

Oil jumps more than 2% after US attack on Iran's Larak island

EconomicTimesEconomicTimes2026/08/31 00:46
SINGAPORE: Oil prices jumped more than 2% on Monday, with Brent back ‌above $90 ⁠a ⁠barrel, after U.S. forces struck two Iranian launchers on Iran's Larak island in the ⁠Strait of ‌Hormuz on Sunday, the ⁠first known American strikes on the Gulf nation since late July.

Brent crude futures climbed $2.22, or 2.52%, ‌to $90.32 a barrel by 2202 ​GMT ​while ⁠U.S. West Texas Intermediate crude was at $85.41 a ​barrel, up $2.01, or 2.41%.
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