Oil price rises after US launches fresh strikes on Iran

Oil prices rose after the US launched fresh strikes on Iran and tightened sanctions on Iranian oil exports, following recent attacks on commercial shipping in the Strait of Hormuz.

The global oil benchmark Brent crude was up around three per cent to $76 a barrel at one point. Though off the peak of $120, it's enough to raise inflation risks, as Laura Westbrook reports from Hong Kong.

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