Oil prices rose on Wednesday after the U.S. launched fresh strikes on Iran in retaliation for attacks on commercial vessels in the Strait of Hormuz.

A cluster of strikes on vessels in the Strait of Hormuz puts a fragile peace framework into jeopardy, as unrestricted passage is a central provision of the newly brokered…

The exchange of fire risks plunging the U.S. and Iran into a new cycle of retaliation.