Oil prices climbed over 2% on Wednesday, extending the sharp gains from the previous session, as fears of supply disruptions grew after the US and Iran exchanged strikes overnight. The escalation has reduced hopes of a quick easing of tensions in the Middle East.
The United States said it carried out a series of airstrikes against targets in Iran overnight, drawing a response from Tehran in what was described as the most serious escalation in the conflict between the two countries in weeks.
