CommSec’s James Gruber claims oil prices have spiked again after Iran and the US traded attacks. “Oil prices spiking; they’re up over five per cent, the spot oil prices,” he told Sky News Australia. “That’s after Iran and the US tit-for-tat in the Middle East.

The Trump administration on Monday canceled its waiver on Iranian oil sales after Tehran fired missiles at three ships near the Strait of Hormuz over the past 24 hours, calling the

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.

Asian shares were mixed on Wednesday and oil prices surged more than 2% after the U.S. launched strikes on Iran after it said Tehran struck three ships in the Strait of Hormuz. U.S. futures were little changed.