00:00Oil prices have moved sharply higher after at least three ships were attacked near the Strait of Hormuz,
00:07raising fresh concerns about supply disruptions in the Middle East.
00:12Iran has warned vessels against travelling through the Strait,
00:15a key choke point that carries about 20% of the world's oil and gas.
00:23Shipping traffic has slowed, with several tankers now anchoring outside the passage.
00:28The UK Maritime Trade Operations Centre said two vessels were struck by projectiles, sparking fires.
00:36An explosion was also reported near third ship.
00:40In early Asian trading, oil briefly surged more than 10% before pulling back.
00:46Brand crude was last up more than 4% at just over $76 a barrel.
00:51US crude also gained around 4%, trading near $70.
00:56Analysts say there is no sign of panic in the market for now,
01:00but warned prices could move above $100 a barrel if tensions escalate further.
01:06OPEC Plus has meanwhile agreed to increase output by just over 200,000 barrels a day
01:12in an effort to steady the market.
01:14The US HoloLens is required to increase output by the Nastrash was also on the market.
01:14So far more than 2% at those,
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