American forces struck targets along Iran's southern coast for the third time in a week over the weekend, after attacks on two commercial vessels in the Strait of Hormuz, and the oil market repriced the danger at Monday's open: Brent crude, which settled near $76 (£57) a barrel on Friday, traded above $78 (£58) in early Asian dealing, a rise of more than 3%. With tanker transits through the waterway still running well below normal, the cost works its way towards the forecourt, into freight rates and into gas-linked energy bills.
United States Central Command said Saturday's strikes answered an attack that left a Cyprus-flagged container ship damaged in the Strait with one crew member missing, and further American strikes followed on Sunday. Iranian state media reported explosions around the port of Bandar Abbas, on Qeshm Island, and at Hajiabad, with local officials describing close to a dozen projectiles hitting Qeshm alone.
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