Oil prices jump nearly 3% after renewed hostilities between US, Iran
Iran's military accused the US of violating the ceasefire between the two countries, saying the US had targeted two ships in the Strait of Hormuz and attacked civilian areas
 "Oil prices jump nearly 3% after renewed hostilities between US, Iran")
US crude futures rose as much as 3 per cent in early trading on Friday after renewed hostilities broke out between the US and Iran.
West Texas Intermediate oil prices were trading up 2.58 per cent or $2.45, at $97.26 a barrel, as of 2233 GMT, after initially gaining more than 3 per cent.
The US military said it carried out retaliatory strikes on Iran on Thursday, targeting sites responsible for attacking US forces.
Iran's military accused the US of violating the ceasefire between the two countries, saying the US had targeted two ships in the Strait of Hormuz and attacked civilian areas.
The WTI contract had settled down 27 cents at $94.81 per barrel in the previous trading session.
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