HOUSTON: Oil prices pared gains that had lifted them more than 5 per cent on Monday after Iran and Israel said they...

Oil prices rose after Iran fired missiles at Israel, raising fresh doubts over U.S.-Iran diplomacy and the reopening of the Strait of Hormuz.

Oil prices jumped over 3% on Monday as escalating strikes between Iran and Israel heightened fears of prolonged regional instability, threatening a fragile ceasefire.