Tehran/Washington, July 15 -- Oil prices rose soared on Wednesday after the US carried out a fourth consecutive night of strikes on Iran and reinstated a blockade on vessels travelling to and from Iranian ports.
Brent crude, the global benchmark, was up 0.3% at $85 a barrel in early trading, while West Texas Intermediate (WTI), the US benchmark, gained 0.5% to trade near $80 a barrel.
The latest gains came after the US military confirmed on Tuesday that it had reimposed a blockade first introduced in mid-April and maintained for two months before being lifted under a temporary agreement with Tehran. The earlier blockade had contributed to a sharp rise in oil prices.
However, President Donald Trump offered some reassurance to energy marke...