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The Economic Times
The Economic Times
Veer Sharma

Oil Price Today (August 31): Crude oil reclaims $90 as fresh US attacks dim peace deal hopes. What are experts saying?

Oil United States Iran Strait of Hormuz Gulf Goldman Sachs Jordan Larak Larak Island

Oil prices rose by more than $2 a barrel on Monday after the United States struck an Iranian island in the Strait of Hormuz, prompting retaliation from Tehran as the Middle East conflict entered its sixth month.

U.S. forces on Sunday struck two launchers on Iran's Larak island in the Strait of Hormuz. It was the first known American strike on the Gulf nation since late July. Iran responded by attacking two U.S. air bases in Jordan, Iranian media reported on Monday, citing Iran's Revolutionary Guards.

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