Oil rose more than 1% on Monday amid heightened concerns over supply disruptions after U.S. forces struck two Iranian rocket launchers on Larak Island on Sunday. Brent crude futures for November delivery gained 1.54% to $89.46 a barrel, while West Texas Intermediate futures for October advanced 1.44% to $84.60 per barrel. U.S. Central Command confirmed the strike, with Iranian Revolutionary Guard Corps forces observed preparing to launch rockets with sea mines into the Strait of Hormuz. This was the first publicly acknowledged U.S. strike on Iranian positions since late July. The Middle East conflict, now in its sixth month, has severely disrupted vessel traffic through this key route for global energy shipments.
Source: Read the original article
