Oil prices jump after news that U.S. struck Iran's Kharg Island

Steve KopackThe price of U.S. crude oil jumped more than 3% to nearly $116 per barrel, after the first reports that the U.S. struck Kharg Island, from which Iran exports 90% of its crude oil. A U.S. official confirmed the strikes to NBC News, but said the strikes did not involve oil assets.

Brent crude oil also jumped to more than $110 per barrel.

U.S. stock futures also declined to their lows of the morning, with the S&P 500 showing a drop of more than 0.5%, on renewed fears that the new strikes, and Trump's 8 p.m. ET deadline, could heighten already widespread uncertainty and supply issues in global energy markets.