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Oil prices jump over 2% after US-Iran directconflict re-ignites after a month of pause

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SHIVANGHI PAYAL31 Aug 2026, 02:13 amUpdated 1d ago1 min readIndiaIndia

India — SHIVANGHI PAYAL

Oil prices jump over 2% after US-Iran direct conflict re-ignites after a month of pause

Following a U.S. military strike on Iranian launchers in the strategic Strait of Hormuz, oil prices have surged. In retaliation, Iran launched attacks on two U.S. air bases in Jordan. Jordan's military successfully intercepted eight missiles aimed at its territory early Monday, escalating the ongoing conflict in the Middle East, now entering its sixth month. Shipping activities through the Strait of Hormuz have notably dipped due to rising tensions.

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Source: Times of India · SHIVANGHI PAYAL. Published 31 Aug 2026, 02:13 am.

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