Oil prices jump 5%, post biggest rise since mid-May amid Iran-Israel escalation

Oil prices rose as much as 5% on Monday after Iran fired ballistic missiles at northern Israel and Israel struck targets in Iran. Brent crude traded near $98 per barrel, while WTI, the US crude oil benchmark, moved near $95 per barrel. Notably, Israel also struck a petrochemical plant in southwestern Iran in retaliation to Iran's attacks.