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Oil prices rise after US and Iran exchange fire in Hormuz strait
Key takeaways
- Osmond Chia Business reporter Anadolu via Getty Images Oil prices rose on Friday morning trade in Asia after the US and Iran exchanged fire in the key Strait of Hormuz waterway.
- The price of global oil benchmark Brent rose by 2.3% to $102.40 (£75.53) a barrel, while US-traded crude was 2.1% higher at $96.80.
- The flare-up further endangers the US-Iran ceasefire, which President Donald Trump extended indefinitely on 21 April to allow more time for peace talks.
Osmond Chia Business reporter Anadolu via Getty Images Oil prices rose on Friday morning trade in Asia after the US and Iran exchanged fire in the key Strait of Hormuz waterway.
The US military said it intercepted what it called "unprovoked" Iranian attacks - including missiles, drones and small boats - and carried out self‑defence strikes as its ships were heading out of the Gulf through the strait.
The price of global oil benchmark Brent rose by 2.3% to $102.40 (£75.53) a barrel, while US-traded crude was 2.1% higher at $96.80.
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