Oil prices climb 3% after Iranian missile strikes on Israel

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An oil tanker is docked, unloading crude oil at the port in Qingdao, in China’s eastern Shandong province. Photo: AFP/FILE

Oil prices rose more than three percent on Monday when markets reopened after the weekend, reflecting renewed concerns over Iran's first attack on Israel since an April 8 ceasefire.In early trading, the price of Brent crude, the international benchmark, climbed 3.29 percent to $96.15 a barrel.Its US equivalent, West Texas Intermediate (WTI), rose 3.25 percent to $93.48 a barrel.Tehran fired several missiles at Israel on Sunday, which Israel claimed to have intercepted. The strikes put new strain on a fragile ceasefire on the 100th day of the war in the Middle East.