The United States and Iran traded attacks on Friday, with Tehran targeting American assets across the Middle East in the biggest escalation since the two foes returned to outright war.

Oil prices rise as the US renews a blockade on Iranian ports and carries out a wave of air strikes.

The United States launched a wave of strikes against Iran on Wednesday, after it reimposed a naval blockade in a return to war between the two foes. Days after the return to war,…