Oil prices rose on Thursday after the United States and Iran exchanged gunfire for the second consecutive day, raising fears the two countries could again descend into open conflict.
The United States said it has struck multiple targets across Iran after President Trump vowed to maintain military pressure because talks with Iranian leaders over its nuclear program were moving too slowly. Iran said it retaliated with two attacks on US air bases in Kuwait and Bahrain, although there was no immediate confirmation of the attacks.
Despite rising tensions, oil markets have remained relatively soft in recent days, with little reaction following the downing of a US military Apache helicopter near the Strait of Hormuz on Monday.
