Oil prices rose more than three percent on Monday when markets reopened after the weekend, reflecting renewed concerns over Iran’s first attack on Israel since the ceasefire.
In early trading, the price of Brent crude, the international benchmark, climbed 3.29 percent to $96.15 a barrel. Its US equivalent, West Texas Intermediate, rose 3.25 percent to $93.48 a barrel.
Energy prices have seen wild swings since the April ceasefire was agreed. Prices have hovered around the $95 mark over the past week as traders weighed the long-term impact of the war on global energy flows.
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