Oil jumps more than 2% after Iran and US trade airstrikes

Oil prices jumped more than 2% after Iran’s Revolutionary Guards said they targeted a U.S. airbase in retaliation for an earlier U.S. attack in Bandar Abbas. The escalation raises immediate geopolitical risk premia across energy markets and broader risk assets. The move is likely to support crude and related commodities while keeping sentiment defensive.

Analysis

Oil prices jumped more than 2% after Iran’s Revolutionary Guards said they targeted a U.S. airbase in retaliation for an earlier U.S. attack in Bandar Abbas. The escalation raises immediate geopolitical risk premia across energy markets and broader risk assets. The move is likely to support crude and related commodities while keeping sentiment defensive.