Oil prices surged past $105.50 a barrel, rising 0.4%, as the US-Iran peace talks ended in a deadlock, adding to uncertainty in the Middle East. The commodity is set for its biggest weekly gain since the start of the war due to the closure of the Strait and disruptions in oil flow.
US President Donald Trump's comments on India and China sparked a response from the Iranian embassy, which called out Trump's 'war-criminal' comments.
Israel carried out new strikes on southern Lebanon, despite a ceasefire announcement, while the US deployed its third aircraft carrier to the region.
US President Trump announced a three-week extension of the ceasefire between Israel and Lebanon, but tensions remain high in the region.
Trump ruled out using nuclear weapons against Iran, saying the US has 'decimated' them without it, and expressed willingness to wait for a long-term peace deal.
