Move from Washington quashes hopes that exchange of fire last weekend might not presage ⁠wider renewal of hostilities

The US launched new airstrikes on Iranian targets on Tuesday, quashing hopes that an exchange of fire last ⁠weekend might not presage a ⁠wider renewal of hostilities.

Oil prices had ​already risen after that first exchange of direct attacks since July and after reports of two tankers being hit leaving the strait of Hormuz, the global oil supply waterway that Iran has effectively closed to shipping.

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