Oil jumps as Iran rocket strike on US forces jolts markets

TOKYO: Oil prices jumped to their highest in months on Wednesday after Iran attacked American forces in Iraq in response to a US strike that killed an Iranian general last week, raising the spectre of a spiralling conflict and disrupted oil supplies.

But prices cooled a fraction after the early heat as analysts said market tension could ease as long as oil production facilities remain unaffected by attacks.

Brent crude futures rose $1.56, or 2.3 per cent, to $69.83 by around 0207 GMT, after earlier rising to $71.75, the highest since mid-September 2019.