Oil prices jump after US launches new attacks on Iran

Here is the latest breaking news from around the world: Oil prices jump after US launches new attacks on Iran16 minutes ago Share Save Add as preferred on GooglePeter HoskinsBusiness reporterHindustan Times via Getty ImagesThe conflict in the Middle East has pushed up the cost of energy around the world. 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.

The Details

15) a barrel, while US-traded crude was 4% higher at $92. 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.

Around a fifth of global oil and liquefied natural gas (LNG) supplies usually passes through the strait. Shortly afer the US and Israel launched attacks on Iran on 28 February, Tehran responded by threatening to attack vessels using the shipping route.

The story has become one of the most prominent items on the global agenda.