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00:02Crude oil prices jumped more than 7% on Monday as investors feared the war between the U.S.
00:07and Iran could disrupt global supplies, according to CNBC.
00:12U.S. crude rose 7.4% to $72.02 per barrel in early Monday trading.
00:18Brent gained about 5% to $78.37.
00:22Airstrikes by the U.S. and Israel killed Iran's supreme leader Ayatollah Ali Khamenei and other
00:28officials.
00:28UBS analysts told clients in a Sunday note, said the speed of any rebound in Strait of
00:34Hormuz traffic and the scale of Iranian retaliation will determine oil prices in the coming days.
00:40Ristad Energy said tanker traffic through the Strait has effectively halted as shipping companies
00:44take precautionary measures.
00:46Barclays said Brent could reach $100 per barrel as Middle East tensions escalate, while UBS
00:52said a material disruption could push spot prices above $120 per barrel.
00:56More than 14 million barrels per day moved through the Strait on average in 2025.
01:02Iran produces about 3.3 million barrels per day.
01:05For all things money, visit Benzinga.com.
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