Oil rises over 3% as US and Iran resume military attacks
XLE•Brent and WTI still set for August losses
Despite Monday's rally, Brent and WTI were still on track to post modest losses for August after falling more than 4% last week, their first weekly declines in three weeks.
Trump also said on Sunday that oil secured under a deal with Venezuela would be used to replenish the U.S. Strategic Petroleum Reserve, which has fallen to near its lowest level in 44 years.
Oil prices rise on renewed Middle East conflict
LONDON, Aug 31 (Reuters) - Oil prices rose more than 3% on Monday after the U.S. attacked an Iranian island in the Strait of Hormuz and Tehran said it had retaliated, as their conflict extended into its sixth month.
Brent crude futures LCOc1 were up $2.87, or 3.26%, to $90.97 a barrel at 1120 GMT, while U.S. West Texas Intermediate crude CLc1 was up $2.91, or 3.49%, to $86.31.
