Oil settles up by more than 2.5% as US and Iran resume military attacks
XLE•Oil prices rise as military action resumes
Oil prices settled more than 2.5% higher on Monday after a resumption of military action between the U.S. and Iran rekindled market concerns about global supply disruption, as the conflict extended into its sixth month.
Brent crude futures settled up $2.39, or 2.71%, to $90.49 a barrel. U.S. West Texas Intermediate crude settled up $2.36, or 2.83%, to $85.76. Brent rose as high as $91.52 during the session, its highest since August 25.
Trump vows response after attacks on bases in Jordan
U.S. President Donald Trump was quoted as promising to "hit them hard" after Iran launched missiles overnight at two U.S. air bases in Jordan in response to an attack on Iran's Larak Island.
"We're going to hit them hard," a Fox News reporter quoted Trump as telling the channel. "There will be a response."
