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The Economic Times
The Economic Times

Iran targets US air base as fresh attacks strain ceasefire efforts, lift oil prices

Dubai: Iran said it had targeted a US air base in retaliation for weekend American strikes on Iranian military sites, while Kuwait reported missile and drone attacks on Monday, highlighting the fragility of ongoing ceasefire efforts and negotiations aimed at ending three months of conflict.

Oil prices climbed more than 3% after the latest escalation. Regional tensions were further heightened by Israel's decision to expand military operations in Lebanon against the Iran-backed Hezbollah movement.

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