Oil prices saw a significant increase, trading over 2 percent higher, following US strikes on Iran's Larak island and subsequent retaliation from Tehran.

• Brent crude futures climbed 2.85 percent to $90.61 a barrel.
• US forces struck two launchers on Iran's Larak island, with Iran reportedly retaliating by attacking two US air bases in Jordan.
• The conflict, now in its sixth month, has led to a drop in commodity vessels passing through the Strait of Hormuz, with a tanker being struck by a projectile over the weekend.