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Oil prices jump 2% in early trading

Oil prices jumped more than 2% during Sunday night trading — building on Friday’s gains — as tensions in the Middle East escalated over the weekend.

Following Thursday’s death of top Iranian commander Qasem Soleimani, on Sunday an Iranian state-run television broadcast said that the nation would no longer respect uranium enrichment restrictions set forth in 2015′s nuclear deal.

International benchmark Brent crude gained 2.3% to trade at $70.18 per barrel, while U.S. West Texas Intermediate climbed 2.1% to $64.38 per barrel.

Touchstone Exploration Inc (LON:TXP) is a Canadian-based, international upstream oil and gas company currently active in the Republic of Trinidad and Tobago.

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Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.