Peter HoskinsBusiness reporter
Hindustan Times via Getty Images
Oil prices have jumped after the US carried out new attacks on Iran, targeting a military site in Bandar Abbas, a strategic port city.
The US Central Command (Centcom) said its forces also shot down four Iranian drones "that posed a threat around the Strait of Hormuz".
Global oil benchmark Brent rose by 3.75% to $97.83 (£73.15) a barrel, while US-traded crude was 4% higher at $92.22.
The strikes come despite a ceasefire between Tehran and Washington as the two countries hold talks to end the three-month-long conflict that has effectively closed the key Strait of Hormuz waterway, pushing up the cost of energy around the world.
Around a fifth of global oil and liquefied natural gas (LNG) supplies usually passes through the strait.
Shortly afer the US and Israel launched attacks on Iran on 28 February, Tehran responded by threatening to attack vessels using the shipping route.
