Oil markets are reacting to the impact of a U.S. decision to directly enter the Iran-Israel conflict.
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Oil futures jumped more than 2% at the start of the first trading session since the U.S. launched direct attacks against Iran, casting a shadow over the supply outlook in the embattled oil-rich Middle Eastern region.
U.S. crude oil
on Sunday evening rose $1.76, or 2.38%, to $75.60 per barrel, while global benchmark Brent
was up $1.80, or 2.34%, to $78.81 per barrel. Brent had jumped 5.7% to crack $81 before easing.
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