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Crude oil prices jumped over 4% as conflict in the Middle East intensified, with Brent rallying above $90 a barrel in a sudden move higher.
Brent oil, the global benchmark, surged 3.94% to $90.54 a barrel, while the US West Texas Intermediate (WTI) crude futures spiked 4.06% to $86.09.
Oil prices rallied after reports that Israeli missiles hit a site in Iran. As per Iran’s Fars news agency, explosions were heard at an airport in the Iranian city of Isafahan.
Isfahan is home to the Iranian military’s main airbase and locations related to its nuclear programme.
Read here: Israeli retaliatory strikes hit Iran; explosions near airport, flights diverted, says report
(This is a developing story. To be updated)
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Published: 19 Apr 2024, 08:45 AM IST
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