Brent surges above $90 as US-Iran conflict escalates

Oil prices rose more than two per cent on Monday as renewed military attacks between the United States and Iran heightened concerns over possible disruptions to global crude supplies. Brent crude futures rose $2.37, or 2.69 per cent, to $90.47 a barrel, while US West Texas Intermediate crude gained $2, or 2.4 per cent, to $86.50. The escalation in the conflict has increased market volatility.

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