Oil jumps as Iran fires missiles at Israel after Israeli strikes
What's new: U.S. crude rose to $93.30 a barrel and Brent to $95.78 as markets priced in a wider regional war.
Iran fired missiles toward Israel on Sunday, prompting the Israeli military to activate air defenses and issue shelter alerts to residents in the affected area. The attack came hours after Israel said it had struck military targets in western and central Iran, and after separate Israeli strikes on Hezbollah targets in southern Beirut. Financial markets reacted quickly: U.S. oil rose 3% to $93.30 a barrel and global benchmark Brent climbed 2.8% to $95.78, while Dow futures fell 199 points. ABC also reported regular gasoline averaged $4.09 a gallon, up $1.16 since the war began. The exchange marked another escalation in a conflict that has already drawn in the United States.