Oil prices jump above $90 a barrel as US-Iran conflict escalates
Oil prices gained more than 2 per cent on Monday after a resumption of military action between the US and Iran rekindled market concerns about global supply disruption
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Oil prices gained more than 2 per cent on Monday after a resumption of military action between the US and Iran rekindled market concerns about global supply disruption, as the conflict extended into its sixth month. U.S. crude rose 2.54 per cent to $85.51 a barrel and Brent climbed to $90.34 per barrel, up 2.54 per cent on the day. US President Donald Trump will meet oil refining executives on Tuesday, September 1, as he tries to tame gas prices sent spiraling by the Iran war ahead of midterm elections in November. The talks at the White House also come days after Trump announced a deal for a huge US stake in the oil reserves of Venezuela. Republicans fear voters will punish them in November's crucial US midterm elections after high fuel prices dramatically raised the cost of living for ordinary Americans.
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Reported by: Khaleej Times 31 Aug 2026 Read the original ↗ More from Khaleej Times →
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Khaleej Times (UAE).
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31 Aug 2026.
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Read the original at Khaleej Times: https://www.khaleejtimes.com/world/mena/us-israel-iran-lebanon-war-august-31-2026-live-updates
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