Oil prices rose more than 2% per barrel on Monday after conflict in the Middle East reignited once again with US attacking an Iranian island in the Strait of Hormuz, and Tehran hitting back at US bases in Jordan. Brent crude gained $1.86, or 2.11%, to $89.96 a barrel while WTI crude rose $1.60, or 1.92%, to $85.00 a barrel.

Oil prices rose more than 2% per barrel on Monday after conflict in the Middle East reignited once again with US attacking an Iranian island in the Strait of Hormuz, and Tehran…

Oil prices climbed more than 2% after renewed U.S.-Iran fighting raised fresh fears of disruption to shipping and crude exports through the Strait of Hormuz.