Oil jumps more than 2% after US attack on Iran's Larak island
- Posted on August 31, 2026
- By Business News Today
- 3 Views
- 1 min read
Global oil markets experienced significant upward momentum following military operations in the Middle East. Brent crude surged approximately 2.5% to reach $90.32 per barrel, while U.S. West Texas Intermediate gained 2.4%, settling near $85.41. The sharp price increase reflects heightened geopolitical tensions and investor concerns regarding potential disruptions to regional oil supply. These developments underscore how political instability continues to exert substantial influence on energy commodity valuations and market sentiment.
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