Oil surges after Iran attacks US forces in Iraq

Oil prices rose sharply, with United States crude rising nearly three dollars, today after the U.S. said its forces in Iraq were attacked by Iranian ballistic missiles, raising the prospect of a regional conflagration that could cut oil supplies.

West Texas Intermediate



crude futures rose nearly three dollars or almost 5%, to 65.50 dollars a barrel. Brent crude was yet to trade after dropping nearly 1% yesterday.

Gold prices also surged more than 2% today, crossing the key 1,600 US dollars per ounce.