Oil prices rise 4% amid Middle East escalation
World oil prices rose 4% on Monday morning after an exchange of strikes between the US and Iran.
As Report reports, this follows from trading data.
The price of September futures for Brent crude rose 4.14% from the previous close - to $79.16 per barrel, August futures for WTI - by 4.2%, to $74.41.
The US Central Command announced on Monday night the start of a new series of strikes on Iran.
On Monday morning, the press service of the Iran Defense Army (IDF) reported drone strikes on the deployment of US military, air defense systems, missile systems and US Army warehouses in Kuwait. And the Islamic Revolutionary Guard Corps (IRGC) of Iran reported a strike on repair bases for helicopters, aircraft hangars and the command center for drone control at the US base in Bahrain in response to Washington's military actions.
