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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
In brief

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.

Summary auto-generated by AI from the original publisher's content. Editorial standards.

Oil jumps more than 2% after US attack on Iran's Larak island
Oil jumps more than 2% after US attack on Iran's Larak island

Brent crude futures climbed $2.22, or 2.52%, ‌to $90.32 a barrel by 2202 ​GMT ​while ⁠U.S. West Texas Intermediate crude was at $85.41 a ​barrel, up $2.01, or 2.41%.
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Business News Today

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