Crude oil jumps over 3% as Middle East tensions escalate
8 Jun 2026, 09:23 GMT
By editorial@africanews.com (Dominic Wabwireh)
Credit: editorial@africanews.com (Dominic Wabwireh)
Source URL: http://www.africanews.com/2026/06/08/crude-oil-jumps-over-3-as-middle-east-tensions-escalate/
Oil prices jumped more than 3% on Monday after Iran launched missiles at Israel, raising fears of a wider regional conflict and renewed disruption to energy supplies. The gains came despite an OPEC+ decision to increase production quotas for July.