Oil prices jumped more than 4 percent on Monday, rebounding from a two-session decline after Iran and Israel exchanged missile strikes, derailing U.S. President Donald Trump's efforts to secure a peace deal.
Brent crude futures for August delivery were up 4.4 percent at $97.16 a barrel, while WTI crude futures for July delivery jumped 4.3 percent to $94.44.
Middle East peace hopes faded after Israel struck Hezbollah targets in Beirut's southern suburbs over the weekend and Iran retaliated by launching a volley of missile strikes against Israel.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.