Oil prices climbed to a one-month high Monday as the escalation between the United States and Iran fueled fears of a prolonged disruption to global energy supplies. Brent crude was trading at just over $90 a barrel, while West Texas Intermediate crude stood at around $84, the highest level since June 11.
Oil prices have risen throughout the past week, since Washington and Tehran intensified their military confrontation. The escalation has heightened concern over possible prolonged disruption in the Strait of Hormuz, through which about one-fifth of the world’s seaborne oil shipments pass.
Over $90 a barrel
(Photo: Shutterstock, PNGTree)
Foreign exchange trading also opened Monday morning, with the dollar trading at around 3.03 shekels ($1) and the euro at approximately 3.47 shekels ($1.15), close to the representative rates set on Friday.
Weekly trading on the Tel Aviv Stock Exchange is scheduled to begin at 10 a.m. The exchange fell by more than 1% across Thursday and Friday combined, following a volatile week in which the leading indexes had earlier gained more than 2%.