Oil prices jump more than 3%, adding to last week's surge, as Israel strikes Iran energy facilities

Crude lipid futures jumped much than 3% Sunday aft Israel struck 2 earthy state facilities successful Iran, raising fears that the warfare volition grow to vigor infrastructure and disrupt supplies successful the region.

U.S. crude lipid roseate $2.72, oregon 3.7%, to $75.67 per barrel. Global benchmark Brent was up $3.67, oregon 4.94%, astatine $77.90 per barrel.

Israeli unmanned aerial vehicles struck the South Pars state tract successful confederate Iran connected Saturday, according to Iranian state media reports. The strikes deed 2 earthy state processing facilities, according to state media.

It is unclear however overmuch harm was done to the facilities. South Pars is 1 of the largest earthy state fields successful the world. Israel besides deed a large lipid depot adjacent Tehran, sources told The Jerusalem Post.

Iranian missiles, meanwhile, damaged a large lipid refinery successful Haifa, according to The Times of Israel.

Oil prices closed much than 7% higher Friday, aft Israel launched a question of airstrikes against Iran's atomic and ballistic rocket programs arsenic good arsenic its elder subject leadership.

It was the biggest single-day determination for the lipid marketplace since March 2022 aft Russia launched its full-scale penetration of Ukraine. U.S. crude lipid jumped 13% successful full past week.

The warfare has entered its 3rd time with small motion that Israel oregon Iran volition backmost down, arsenic they exchanged barrages of rocket occurrence passim the weekend.

Iran is considering shutting down the Strait of Hormuz, a elder commandant said connected Saturday.