Crude oil prices climb after US military targets Iranian missile sites and vessels in self-defense strikes.
US military strikes in southern Iran pushed crude oil prices higher on Monday, with West Texas Intermediate (WTI) rising 0.60% to $90.01. The operations targeted missile launch sites and Iranian vessels attempting to deploy mines, according to officials.
The strikes follow heightened tensions in the region, though the US emphasized restraint during an ongoing ceasefire. Prior sessions saw oil prices stabilize amid geopolitical risks, with WTI trading near multi-week highs.
Markets reacted swiftly, with WTI extending gains as investors assessed supply disruption risks in the Middle East.