Oil Jumps More Than 3% Intraday, With WTI Above $85 and Brent Over $90

International oil prices surged more than 3% in intraday trading.

BlockBeats, a cryptocurrency-focused media outlet, reported on August 31 that West Texas Intermediate and Brent crude each climbed more than 3% on the day.

WTI was trading at $85.54 a barrel, while Brent was at $90.86.

Oil prices drew support as military tensions between the U.S. and Iran escalated again. The latest move came after U.S. forces struck a rocket launch site on Iran's Larak Island near the Strait of Hormuz, and Iran responded with a missile attack.