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Oil Prices Surge as Markets Digest Iran News

Oil prices surged and stock markets in Asia and Europe fell on Monday, as the impact of the American killing of a powerful Iranian general on Friday ricocheted around the world.

The price of Brent oil, the international benchmark, jumped above $70 in futures trading as markets digested a steady flow of news over the weekend. It fell back below that level, to $69.92 a barrel, when markets opened in Europe, though the price was still about 5 percent higher than before the killing last week.

Union Jack Oil plc (LON:UJO) is an onshore oil and gas exploration company with a focus on drilling, development and investment opportunities in the United Kingdom hydrocarbon sector.

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