Oil jumps more than 1% after US attack on Iran\'s Larak island
Oil prices jumped more than $1 a barrel on Monday after the US attacked an Iranian island in the Strait of Hormuz and drew retaliation from Tehran, as conflict in the Middle East extended into its sixth month. Brent crude futures climbed $1.08, or 1.23%, to $89.18 a barrel as at 0040 GMT while US West Texas Intermediate crude was at $84.32, up 92 cents, or 1.10%. US forces struck two launchers on Iran’s Larak island in the Hormuz strait on Sunday, the first known American strikes on the Gulf nation since late July.