Oil Prices Jump as U.S. and Iran Exchange Fire

Oil prices climbed on Monday as investors weighed a renewed exchange of military strikes between the United States and Iran against indications that both sides remain engaged in negotiations aimed at securing a lasting peace agreement.

Stocks were mixed, pulled higher in East Asia by the continued surge in interest in artificial intelligence and lower in Europe.

The United States said it carried out a series of “self-defense” strikes in Iran over the weekend, the latest in a series of attacks in the past week. Iran’s Revolutionary Guard announced that it had struck a U.S. air base in retaliation for a U.S. attack on a communications facility.