London —
Oil prices rose Monday, with Brent crude crossing $116 a barrel, after comments by US President Donald Trump sparked fears that the Middle East conflict may escalate further.
Brent crude, the global oil benchmark, rose to $116.5 a barrel before paring those gains to trade just above $115, 2.3% up on the day. WTI, the US benchmark, climbed 1.9% to $101.5 a barrel.
Trump told the Financial Times in an interview published Sunday that he wants to “take the oil in Iran” and could seize Kharg Island, which handles about 90% of the country’s