"The Strait of Hormuz is a vital maritime corridor for global trade. Iran does not control it," CENTCOM said following its strikes on dozens of Iranian targets.

Iran closes the Strait of Hormuz amid US tensions. Traffic normalization by August 31 at 19.5% YES.

The U.S. and Iran disputed whether Hormuz was open to ship traffic after trading strikes over the weekend.

Brent surges more than 4 per cent as US-Iran conflict escalates

By Barbara Kollmeyer and Mike Murphy