London —
Oil prices spiked Tuesday and US gas prices rose as Iran intensified its attacks on energy infrastructure across the Middle East and a senior regime figure suggested that the crucial Strait of Hormuz wouldn’t become safe for ships anytime soon.
In a further sign of escalation, Israel announced that it had killed Iran’s security chief Ali Larijani on Monday night. Iran has yet to confirm Larijani’s alleged killing.
Brent crude, the global oil benchmark, rose 2.7% to trade around $103 a barrel, having jumped more than 4% earlier in the trading session.