Oil jumps 3% after U.S., Iran escalate strikes in Mideast

Oil prices jumped Monday as Iran expanded strikes on Gulf states in response to U.S. attacks, raising fears of disrupted energy shipments through the Strait of Hormuz. The escalation increases near-term supply risk and supports higher front-month crude levels.

Analysis

Oil prices jumped Monday as Iran expanded strikes on Gulf states in response to U.S. attacks, raising fears of disrupted energy shipments through the Strait of Hormuz. The escalation increases near-term supply risk and supports higher front-month crude levels.