Oil prices rose more than 1% in early trade on Wednesday as fresh tensions in the Middle East rattled markets. Iran launched missiles toward Kuwait and Bahrain, while efforts to revive diplomatic engagement between Tehran and Washington appeared to make little headway.
According to the U.S. military, Iran fired ballistic missiles at Kuwait and Bahrain, though none of the targets were hit. In response to what it described as attempted attacks, U.S. forces carried out strikes on Iran's Qeshm Island.
