War in the Middle East: oil prices rise more than 3%

Oil prices rose more than 3% on Monday at market opening, with Brent reaching $96.15 and WTI $93.48 per barrel. The increase follows Iranian missile strikes against Israel on Sunday, the first since the April 8 truce, and Israel's retaliation on Monday. OPEC+'s announcement of a production quota increase of 188,000 barrels per day for July did not calm market fears.