Brent crude oil prices rose more than 4.2% on the first trading day of the week after additional US military strikes on Iran.
Brent crude futures rose to around $79.2 as of 08:00 local time, while US crude futures also rose 4.3% to $74.5.
The US Central Command (CENTCOM) announced on Sunday that it had launched additional strikes against Iran. In a post on the social media platform X, CENTCOM claimed the strikes aimed to 'degrade Iran's ability to attack commercial vessels transiting the Strait of Hormuz.'
Meanwhile, Iranian state media reported that explosions were heard on Qeshm Island and in the cities of Jask, Sirik, and Bandar Abbas in the southern Hormozgan province.
According to information compiled by Anadolu Agency from official data, Iran's missile and drone attacks since Sunday have targeted Qatar, the United Arab Emirates, Kuwait, Bahrain, Oman, and Jordan. The Tehran administration, however, maintained that the operations were carried out in response to US strikes and targeted locations where US forces are present in the region.
Last June, Washington and Tehran signed a memorandum of understanding mediated by Qatar and Pakistan, laying the groundwork for a final agreement to end the war. However, US President Donald Trump announced on July 8 that the ceasefire had ended due to escalating tensions.
