Oil prices jump after US launches 'powerful' strikes on Iran

Crude oil prices climbed nearly 2% on Wednesday after the US launched "powerful" military strikes on Iran and reimposed crude sales sanctions. Brent crude futures rose 1.9% to $75.54/barrel, while US West Texas Intermediate crude climbed about 2% to $71.81/barrel. The airstrikes came in response to Iranian attacks on three commercial vessels transiting the Strait of Hormuz.