Oil prices rise as Middle East tensions simmer

Oil prices rise as Middle East tensions simmer

Oil prices climbed on Monday as tensions remain high between Iran and the United States, with US Secretary of State Mike Pompeo saying “significant” sanctions on Tehran would be announced.

US oil soars 10% in week on fears of US-Iran conflict

US oil soars 10% in week on fears of US-Iran conflict

Oil futures rallied on Friday with US crude up 10% in the week and global benchmark Brent gaining 5% on fears of a US military attack on Iran that would disrupt flows from the Middle East, which provides more than a fifth of the world’s oil output.

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