Oil price surges after Iran names leader and launches more strikes
Oil prices skyrocketed past $100 a barrel on Monday, rocking global markets and sparking inflation fears as Iran launched a fresh wave of strikes after naming its new supreme leader.
In early Monday trading, Tokyo’s benchmark Nikkei 225 index plunged as much as 7% after the price of oil passed the benchmark for the first time in almost four years.
Meanwhile, Iran launched attacks on Israel for the first time since Mojtaba Khamenei, the son of late Ayatollah Ali Khamenei, was named his successor.
What To Know
- A seventh U.S. service member died Saturday after sustaining injuries in an attack last week, according to the Pentagon.
- Bahrain’s Health Ministry said 32 people were injured in a drone attack on the Gulf state
- President Donald Trump and Defense Secretary Pete Hegseth said the U.S. was not responsible for an attack on a girls’ elementary school that killed at least 165 people.
- Trump downplayed the oli price hike and insisted in a post on Truth Social that the price would “drop rapidly.”
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