Crude oil markets saw significant increases Monday following a drone strike on a nuclear facility in the United Arab Emirates, while diplomatic efforts to resolve U.S.-Israeli tensions with Iran have reached an impasse.
By 2202 GMT, Brent crude futures had jumped $1.36 to reach $110.62 per barrel, marking a 1.24% increase. Meanwhile, U.S. West Texas Intermediate crude rose $1.84 to $107.26 per barrel, representing a 1.75% gain.
The price surge comes as U.S. President Donald Trump is anticipated to review potential military responses regarding Iran, adding to market uncertainty in the region.
