Article #77567

Just before the latest strikes Trump said Iran would be hit ‘very hard’; UAE says Iranian cruise missiles hit two oil tankers in strait, killing a crew member and wounding eight

• US launches third night of strikes on Iran as Trump announces Hormuz blockade

Resurgent oil and fuel prices could cement a fourth interest rate rise in Australia this year if Donald Trump’s renewed conflict with Iran is not resolved within a week, economists warn.

US missile strikes on Iran and Trump’s announcement of a new maritime blockade has lifted oil prices to their highest point in the month since the two countries agreed to a peace deal.