WASHINGTON – Oil prices rose by about 5% after US President Donald Trump declared that the ceasefire with Iran was “over” following renewed fighting. The conflict intensified after Iranian attacks on ships in the strategically important Strait of Hormuz.
Iran says it will continue controlling the waterway and has threatened ships that do not follow its authorised route. The recent attacks on vessels triggered US strikes on Iranian targets and retaliatory attacks by Iran on Gulf countries, raising fears of further instability in the region.
Comments