Oil 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". Global oil benchmark Brent rose by 3.75% to $97.83 (73.15) a barrel, while US-traded crude was 4% higher at $92.22.
The strikes come despite a ceasefire between Tehran and Washington as the two countries hold talks to end the three-month-long conflict that has effectively closed the key Strait of Hormuz waterway, pushing up the cost of energy around the world.
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