Oil jumped after a second day of U.S. military strikes on Iran, with the Islamic Republic announcing a halt to all vessels through the Strait of Hormuz in response, putting further strain on a fragile ceasefire.
Brent crude surged more than 2% to trade above $95 a barrel, while West Texas Intermediate advanced toward $93, before paring gains after the U.S. military announced an end to the brief campaign. U.S. President Donald Trump has accused Tehran of dragging out talks on an interim peace deal, and he warned of more strikes in an interview with Fox News if an agreement isn¡¯t signed.
The U.S. military earlier refuted the Iranian claim that the strait?has been completely closed, saying commercial ships are continuing to transit the waterway. State-run Press TV reported Iran had struck two vessels attempting to pass through?the strait, while drones had targeted the U.S. Fifth Fleet in Bahrain.
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