Oil prices soared sharply on Monday as the Middle East was once again embroiled in chaos. Crude prices jumped 4% as fresh military action between Iran and the United States fuelled concerns over the security of the Strait of Hormuz, a key global energy route.

Renewed U.S.-Iran strikes have revived the Middle East risk premium, lifting Brent above $76 as traffic through the Strait of Hormuz slows and supply disruption fears return.

SINGAPORE: Oil prices jumped on Monday as Iran expanded strikes on Gulf states following attacks by the United States, threatening energy shipments via the Strait of Hormuz.…

Oil prices climbed Monday as Iran expanded strikes on Gulf states. U.S. West Texas Intermediate crude rose and Brent crude futures climbed. Tehran extended strikes on Qatar and…

Oil prices soared sharply on Monday as the Middle East was once again embroiled in chaos. Crude prices jumped 4% as fresh military action between Iran and the United States…

Brent crude climbed above $78 and WTI gained over 3% as escalating Iran-US tensions and threats to Strait of Hormuz shipping raised global supply concerns.

Brent crude climbs 3.3 per cent in early trade to reach $78.50 a barrel

Crude oil futures surge over 4% amid escalating US-Iran conflict and threats to the vital Strait of Hormuz.