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The Economic Times
The Economic Times
Business

Oil rebounds after news of US strikes on Iranian military site

Oil United States Iran Tehran Washington D.C.

NEW YORK: Oil prices jumped about 2% in early Thursday trading after Reuters reported fresh U.S. strikes overnight on an Iranian military site, escalating tensions even as Washington and Tehran negotiate to end their three-month conflict.

Brent crude ‌futures rose $1.90, ⁠or ⁠2.02%, to $96.19 a barrel by 0015 GMT, while the more active August contract gained $1.64 or 1.78%, to $93.89. The July contract is set to expire on Friday.

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