Daily Market Updates: Oil jumps more than 7% as tensions with Iran intensify

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Oil jumps more than 7% as tensions with Iran intensify

Reported · Written up by our desk · Energy

Oil prices surged more than 7% as renewed tensions in the Middle East raised concerns about potential disruption to crude supplies.

CNBC Markets reports that the move came after Iran launched an attack on U.S. forces using ballistic missiles, following which the U.S. signaled it would respond.

The market reaction reflects heightened risk around regional security, traders turning to oil as geopolitical stress escalated.

Latest closeWTI crude $81.23 ▼1.7%

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Sources

CNBC MarketsOil prices jump more than 7% after Trump says U.S. will hit Iran hard

CNBC WorldOil prices jump more than 7% after Trump says U.S. will hit Iran hard

Commodities

Oil jumps more than 7% as tensions with Iran intensify

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