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Iran retaliated against US military attacks with drone strikes targeting US allies Jordan, Bahrain and Kuwait, defying President Donald Trump’s warning that Iran would be “hit much harder.”
Brent crude rose above $96 a barrel after fresh U.S. strikes on Iranian targets and Iranian retaliation across the Middle East raised Strait of Hormuz fears.
Oil prices surged higher amid increased Middle East tensions after Iran attempted attacks on commercial ships and fired missiles at American bases, prompting U.S. military strikes on Iranian targets.
Trump said he would rule out using a nuclear weapon against Iran and warned the U.S. would respond forcefully after Iranian retaliation.
Iran targets US military positions after Trump orders strikes over alleged ceasefire violation in Strait of Hormuz