Oil and energy

Oil rises more than two percent as Brent tops $90 after strikes on Lark Island

Oil prices rose more than two percent at the start of Monday's trading, with Brent crude climbing to $90.32 a barrel after U.S. strikes on two Iranian launch platforms on Lark Island in the Strait of Hormuz.

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Oil rises more than two percent as Brent tops $90 after strikes on Lark Island

Oil prices jumped more than two percent at the start of trading on Monday, with Brent crude moving back above $90 a barrel after U.S. forces carried out strikes on Sunday against two Iranian launch platforms on Iran's Lark Island in the Strait of Hormuz.

Crude price movements

Brent crude futures rose $2.22 or 2.52 percent to reach $90.32 a barrel by 22:02 GMT.

U.S. West Texas Intermediate crude settled at $85.41 a barrel, up $2.01 or 2.41 percent.

Strikes in the Strait of Hormuz

Prices rose after U.S. forces carried out strikes on Sunday against two Iranian launch platforms on Iran's Lark Island in the Strait of Hormuz, the first known U.S. strikes on Iran since late July.

Assets and currencies in this story

  • BRENT
  • WTI
  • USD

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