US oil prices jump after US military launches strikes against Iran

US WTI crude prices jumped 2.8 percent, or USD 1.95, to USD 72.39 a barrel after the US military launched strikes against Iran in retaliation for Iranian attacks on three commercial vessels transiting the Strait of Hormuz. The US also revoked the general licence authorising the sale of Iranian crude. A Qatari LNG tanker and a Saudi-flagged crude tanker were damaged, reigniting fears of supply disruptions through the key shipping route.