In Asia: Oil Prices Surge After US Strikes in Iran

Oil prices skyrocketed by nearly 6% on Monday in Asia before tempering their gains, while stock markets fell following US strikes in Iran, which raised concerns about an escalation in the Middle East.

The Oil Market Eyes Iran

Around 00:45 GMT, North Sea Brent crude was up 2.86% at $79.21, after surging 5.7% to $81.40 at the start of trading, the highest level since the end of January. US WTI crude jumped by 2.8%.