Israel-Iran: Global oil price rises by near 3% after US strike

Global oil prices spiked by over 2 percent after the United States of America bombed Iran’s three nuclear sites.

Oilprice.com data showed that oil prices skyrocketed as trade commenced on Monday.

As of 1:16am on Monday, Brent crude and West Texas Intermediate futures prices stand at $78.99 and $75.81 per barrel, up from $77.07 and $73.83 per barrel on Sunday.

Media Talk Africa reports that President Donald Trump announced on Saturday that the US successfully bombed Iran’s Fordow, Natanz, and Isfahan nuclear sites.

Iranian authorities had vowed retaliation, which had sent a panic signal across the Middle East and the world at large.

Media Talk Africa earlier reports a possible spike in global crude oil prices as the Israel-Iran war took a different dimension after US entrance.