Energy prices have soared again since fighting between US and Iran resumed two weeks ago as conflict spreads across Middle East

Iran has said it struck two tankers trying to pass through the strait of Hormuz under the escort of the US military as Donald Trump gathered his cabinet to discuss the stalling war and rising prices as midterm elections in the US loom.

Iran’s Islamic Revolutionary Guard Corps said on Friday that the “non-compliant oil tankers … were struck and brought to a halt, while four other oil tankers quickly changed course and returned to their previous positions”. The military body said the ships had tried to pass through the strait via an “undeclared route” and under US aerial escort.

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