Oil price surges as Iran steps up attacks on ships in the Persian Gulf

"The war with Iran entered its 13th day Thursday as attacks on commercial ships spread to Iraq's waters and oil prices climbed back above $100 a barrel. Two oil tankers were struck by projectiles near Iraq's southern ports, Iraqi officials said Thursday the first such strike reported in Iraqi waters since the war began."

"As markets seesawed and attacks set oil refineries ablaze across the Gulf, the International Energy Agency said member countries would release a record amount of oil from emergency reserves, including 172 million barrels from the U.S. Strategic Petroleum Reserve."

"Iranian and Lebanese health officials and Israeli authorities have reported more than 1,200 people killed in Iran, 634 in Lebanon and 12 in Israel. Seven U.S. soldiers have died and eight were seriously injured mainly after attacks at U.S. bases in countries neighboring Iran, according to the Pentagon."

The Iran-Israel conflict has intensified with attacks spreading to Iraqi waters, where two oil tankers were struck near Basra. Iran claimed responsibility for hitting a U.S.-owned tanker. Multiple commercial vessels have been targeted in the Strait of Hormuz, a critical global oil shipping route. Oil refineries caught fire across the Gulf region, prompting the International Energy Agency to authorize member countries to release record emergency oil reserves, including 172 million barrels from the U.S. Strategic Petroleum Reserve. Hezbollah launched its largest rocket attack against Israel since the war began, with Israel responding with strikes on Beirut's southern suburbs. A Pentagon assessment indicates U.S. forces likely struck a girls school near Minab. Casualty reports show over 1,200 deaths in Iran, 634 in Lebanon, and 12 in Israel, with seven U.S. soldiers killed.

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