Crude oil futures ended higher on Monday as the U.S. recommenced attacks on Iran after a month-long pause, which was followed by Iran's retaliatory strikes, stoking concerns of a broader re-escalation in the gulf. The escalation has put energy markets on alert amid growing uncertainty over global oil supplies.
Benchmark crude oil futures for October delivery rose by $2.36 or 2.83% to settle at $85.76 a barrel on the New York Mercantile Exchange. Brent crude for November delivery increased by $2.39 or 2.71% to settle at $90.49 a barrel on the New York Mercantile Exchange.