Oil prices rose on Tuesday following the US military strikes on targets in Iran, dimming hopes for a peace agreement between the two countries
The US military bombed Iranian missile launch platforms and vessels on Monday, despite an ongoing ceasefire and negotiations toward a potential peace deal. US officials said the strikes were carried out in self-defence, citing Iranian attempts to deploy naval mines.
Markets reacted nervously to the escalation. Brent crude, the benchmark for oil pricing, rose nearly 2%, reaching $97.95 per barrel after falling over 7% on Monday.
