Oil prices rise after US and Iran exchange fire in Hormuz strait
US President Donald Trump says the ceasefire between Washington and Tehran is still in place.
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The US said it made self‑defence strikes in response to "unprovoked" Iranian attacks as US ships were heading out of the Gulf through the strait, which is south of Iran. Iran said the US had violated the ceasefire agreed in April, according to its state media.
The global Brent oil benchmark price rose almost 3% to nearly $103 (£75) a barrel at one point before falling back to around $100.
Despite the attacks, US President Donald Trump said on Friday the US-Iran ceasefire is still in place.
Iranian state media has reported that the situation "is back to normal now".
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