Oil prices rise 3.75% after US launches new military strikes on Iran
By
Peter Hoskins
Master baker tier. Every paragraph earns its place on the tray.
Summary
Oil prices surged after the US launched new military attacks on Iran, targeting a military site in Bandar Abbas and shooting down Iranian drones near the Strait of Hormuz. The escalation comes despite a ceasefire between the two countries as they hold peace talks. Global oil benchmark Brent rose by 3.75% as the Middle East conflict continues to push up energy costs worldwide.
Key quotes
· 3 pulledOil prices have jumped after the US carried out new attacks on Iran, targeting a military site in Bandar Abbas, a strategic port city.
The US Central Command (Centcom) said its forces also shot down four Iranian drones 'that posed a threat around the Strait of Hormuz'.
The conflict in the Middle East has pushed up the cost of energy around the world.
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