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Oil prices edge higher after strikes on Israel test ceasefire
Key takeaways
- The price of the global benchmark Brent jumped by 2.6% to $95.50 (£71.60) a barrel, while US-traded crude rose by 2.5% to $92.75.
- Iran's Islamic Revolutionary Guard Corps (IRGC) warned that the attacks are the start of "a full week" of strikes.
- US President Donald Trump has reportedly told news outlet Axios that he will urge Israel "not to retaliate", despite the country's military saying it will "strike the enemy" as soon as the order is given.
Why this matters: a developing story that could shape the day's news cycle.
Osmond Chia Business reporter AFP via Getty Images Oil prices climbed on Monday morning trade in Asia after Iran fired missiles at Israel for the first time since a fragile ceasefire was agreed between the countries and the US in April.
The price of the global benchmark Brent jumped by 2.6% to $95.50 (£71.60) a barrel, while US-traded crude rose by 2.5% to $92.75.
Iran's Islamic Revolutionary Guard Corps (IRGC) warned that the attacks are the start of "a full week" of strikes.
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