{
  "id": 4734163,
  "title": "Oil settles up by more than 2.5% as US and Iran resume military attacks",
  "url": "https://urgent.news/2026/08/31/oil-settles-up-by-more-than-2-5-as-us-and-iran-resume-military-attacks-4734163",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-31T22:30:00.000Z",
  "source": {
    "name": "The Business Times - Companies & Markets",
    "slug": "the-business-times-companies-markets",
    "url": "https://www.businesstimes.com.sg/companies-markets/energy-commodities/oil-settles-more-2-5-us-and-iran-resume-military-attacks"
  },
  "original_language": "en",
  "account": "Brent crude prices surged over 2.5% on Monday after the US and Iran resumed military attacks, reigniting fears of supply disruptions in the global oil market. The conflict, now in its sixth month, saw the two nations extend hostilities, with Iran attacking US bases in Jordan and the US threatening retaliation. US President Donald Trump vowed a \"hard\" response, stating, \"We're going to hit them hard,\" according to a Fox News reporter. Despite Trump's claims that the Strait of Hormuz, responsible for a fifth of global oil supplies, would be reopened, shipping data showed only five vessels passing through over the weekend. US Treasury Secretary Scott Bessent emphasized that US sanctions on Iran aim to create conditions for negotiations to ease supply concerns. Oil prices reached a peak of $91.52 per barrel during the session, with West Texas Intermediate crude settling at $85.76 per barrel.",
  "summary": "Brent rose as high as US $91.52 during the session",
  "key_points": [
    "US and Iran resume military attacks, sparking oil price surge",
    "Brent crude prices increase by more than 2.5%",
    "US Treasury Secretary stresses sanctions aim to ease supply concerns"
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 3,
    "also_reported_by": [
      {
        "outlet": "CNA - Business",
        "title": "Yields rise, stocks ease, with oil gaining as US and Iran resume military attacks",
        "url": "https://urgent.news/2026/08/31/yields-rise-stocks-ease-with-oil-gaining-as-us-and-iran-resume",
        "published": "2026-08-31T00:38:00.000Z"
      },
      {
        "outlet": "The Business Times - Companies & Markets",
        "title": "Oil settles up by more than 2.5% as US and Iran resume military attacks",
        "url": "https://urgent.news/2026/08/31/oil-settles-up-by-more-than-2-5-as-us-and-iran-resume-military-attacks-4741115",
        "published": "2026-08-31T22:30:00.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}