Oil Prices Spike After Iran and Israel Exchange Missile Attacks

Oil prices started the week higher after Iran launched ballistic missiles at Israel on Sunday night, heightening fears that U. S. -Iran peace talks might once again fall apart.

Israel has since retaliated to the attack with strikes in western and central Iran despite calls from Trump to not respond to the Iranian missiles. At the time of writing, Brent crude had climbed 3. 45% to $96. 30 per barrel, while West Texas Intermediate had gained 3. 41% to trade at $93.