Energy
Oil prices rise as Trump warns Iran over stalled peace talks
Brent crude and U.S. futures advanced Monday amid escalating Middle East tensions and record-low global inventories.
Middle East
Brent crude jumps above $100 after U.S. strikes Iran, Tehran vows retaliation
Oil prices surged Tuesday following U.S. military strikes in southern Iran targeting missile launch sites and vessels. Iran pledged to retaliate.
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Middle East
Brent crude oil prices rose Tuesday, climbing more than 4% to $100.40 a barrel by 11 a.m. ET, as the U.S. military conducted strikes in southern Iran and tensions between Washington and Tehran escalated.
The U.S. military said it "conducted self-defense strikes in southern Iran today," targeting missile launch locations and vessels allegedly attempting to deploy mines. The strikes prompted Iran to vow retaliation, keeping traders on edge over potential further escalation in the region.
West Texas Intermediate futures fell more than 2% to $94.19 per barrel. The WTI contract did not close Monday due to the three-day Memorial Day holiday.
President Donald Trump posted on social media Monday that he had encouraged Saudi Arabia, Qatar, Pakistan, Turkey, Egypt and Jordan to join the Abraham Accords, a move that complicated ongoing peace talks between Tehran and Washington.
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