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FINWIRES

Oil Prices Higher as Iran, Israel Exchange Strikes

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Oil prices were up Monday as Israel and Iran exchanged missile and air strikes, undermining an already fragile ceasefire.

Front-month global benchmark North Sea Brent crude was up 4.2% at $97.01 per barrel and US West Texas Intermediate crude was 4.7% higher at $94.75 per barrel.

In a post on X, the Israel Defense Forces said that the Israeli Air Force hit military targets in western and central Iran.

Meanwhile, Iran's military reportedly said it targeted two Israeli air bases in retaliation for Israel's attacks.

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