Oil prices climbed Monday following expanded Iranian strikes on Gulf states. U.S. West Texas Intermediate crude and Brent crude futures both rose. Tehran extended attacks on Qatar and the United Arab Emirates over the weekend.
The escalation casts doubt on an interim U.S.-Iranian agreement. Market analysts described the flare-up as an escalation within a fragile truce.
Oil prices responded immediately to the weekend developments. West Texas Intermediate crude rose alongside Brent futures as traders assessed supply risks in the region.
The cycle of attacks between the two sides has renewed concerns over stability in the Middle East.
