Oil rises in volatile trade as US resumes attacks on Iran

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Brent futures rose $1.48, or 1.63%, to $92.22 a barrel in early trade. The US carried out two hours of attacks on Iran at 8pm ET (0000 GMT), the US Central Command said. That ended a lull in US strikes on Iran that began over the weekend. Diplomatic efforts and price trends“Europe is waking up to the news of the US attacks, so buying up,” said Vandana Hari, founder of oil market analysis provider Vanda Insights. However, analysts said investor focus was on the volume of oil exiting the key chokepoints and possibility of a diplomatic breakthrough.