US launches airstrikes on Iran and Tehran retaliates
The United States launched airstrikes against Iran prompting retaliation from Tehran. Global oil prices rose following the attacks as the conflict widened across the region.
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The United States launched a barrage of airstrikes against Iran on Tuesday, prompting retaliatory strikes and driving Brent Crude Oil up more than $4 a barrel to a five-week high. The military action marks the most serious escalation in weeks in a six-month conflict. Global energy markets reacted swiftly as the Strait of Hormuz remained effectively closed to commercial shipping.
