Oil prices have jumped sharply after the US carried out new attacks on Iran, targeting a military site in Bandar Abbas, a strategic port city. Global oil benchmark Brent rose by 3.75 percent to 97.83 dollar a barrel, while US-traded crude was 4 percent higher at 92.22 dollar. Around a fifth of the world’s oil and liquefied natural gas (LNG) supplies usually pass through the strait. The cost of oil had fallen sharply this week on hopes that a deal would soon be reached to reopen the Strait of Hormuz.
