Iran war escalation raises oil prices to over $100 a barrel
The U.S. and Iran are trading more attacks in a fight to exert control over the Strait of Hormuz, an escalation that sent oil prices back over $100 a barrel. Iran says it launched missiles at targets overnight, claiming to strike several tankers and two American ships, which U.S. Central Command denies. Tehran also fired missiles at a U.S. base in Jordan, which the Jordanians say were intercepted.
Hours earlier, the U.S. military said it had destroyed five Iranian tankers in the waters near Iran. In Iran, some residents expressed concern about the impact of U.S. pressure on their daily lives.
Separately on Wednesday, the UN’s nuclear watchdog reported Iran to the Security Council for the first time in 20 years, for failing to cooperate with an investigation into uranium found at undeclared sites. The move is largely seen as symbolic, since Iran’s allies — China and Russia — can veto any sanctions against Tehran.
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