Crude oil prices jump more than 4 percent amid fears the US may join Israel’s offensive against Iran.
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Oil prices have spiked amid fears that the Israel-Iran crisis could spiral into a broader conflict involving the United States.
Brent North Sea Crude and West Texas Intermediate – the two most popular oil benchmarks – rose 4.4 percent and 4.3, respectively, on Tuesday as US President Donald Trump demanded “unconditional surrender” from Tehran.
The benchmarks stood at $76.45 per barrel and $74.84 per barrel, respectively, following the jump.
