US military says it hit dozens of Iranian sites in strikes on Monday while UN chief warns that a return to full-scale fighting would be ‘catastrophic’
Oil prices jumped again on Monday as the US and Iran traded their latest attacks, with Brent crude, the global benchmark wholesale oil price, rising 4.2% to $79.18 a barrel in early London trading.
Jefferies analyst Mohit Kumar said:
For now, we remain hopeful that both parties would return to the negotiating table and traffic would start to flow through the strait. We are not looking for oil prices to go back to the March highs.
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