Oil prices jumped on Friday after the U.S. and Iran exchanged fire in the Strait of Hormuz, raising fresh fears that the fragile ceasefire between the two countries is rapidly unraveling.
The U.S. military said it intercepted Iranian attacks on three navy ships in the Strait of Hormuz Thursday and "targeted Iranian military facilities responsible for attacking U.S. forces." The U.S. military said no ships were hit. Iranian state media said the country's armed forces exchanged fire with "the enemy" on Qeshm Island in the Strait of Hormuz.
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