Oil prices spike after US strikes on Iranian nuclear sites

Stock markets in Asia fell on Monday, while oil prices rose by 4 per cent following US airstrikes on Iranian nuclear facilities. The surge reflected mounting concerns about supply disruptions in the oil-rich Middle East after US president Donald Trump confirmed strikes on sites in Fordo, Natanz and Isfahan.

Around 00.30 Belgian time, Brent had eased to 78.81 USD per barrel, while US crude was trading at 75.60 USD. Both benchmarks had gained more than 2 per cent in the first trading session after the attacks, its highest level in five months.

US attacks three nuclear sites in Iran

The United States has carried out a bombing attack on three nuclear sites in Iran in a significant escalation in the war between Iran and Israel.

belganewsagency.eu

Markets remain on edge as investors await potential Iranian retaliation. The region accounts for roughly a third of global oil output, and any prolonged instability could drive prices higher and intensify inflationary pressures worldwide.

^{© PHOTO ANGELA WEISS / AFP}

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