US and Saudi Arabian forces said they struck Iran-backed militants in Iraq on Wednesday in retaliation for recent attacks, following a short pause in Iran war hostilities. The combined air operation came as President Donald Trump met with his Israeli counterpart Benjamin Netanyahu in Washington for their first in-person talks since the Middle East war began in late February. Crude oil prices leapt more than four percent as the fresh Middle East flare-up revived fears over global supplies usually shipped through the pivotal Strait of Hormuz.

Iran-backed militants in Iraq recently launched over two dozen drone attacks on US forces and Saudi energy infrastructure.

Attacks come as Saudi Arabia intercepts drones and Iran warns of 'any action' to maintain its control of Hormuz.

US Iran war news: Saudi Arabia and U.S. CENTCOM conducted targeted strikes against Iran-backed groups in Iraq. These groups were blamed for recent drone attacks on Saudi oil…