The fragile ceasefire between the US and Iran collapsed further Sunday as Tehran launched strikes against five Gulf nations and shut down the Strait of Hormuz for the second time in weeks, escalating a conflict that has already destabilised regional oil markets.

According to US Central Command, the number of Iranian military targets destroyed in one day is 140, making the total for three days exceed 300. The purpose is to reduce Iran’s capacity to threaten civilian ships in the strait.

Iran retaliated in a more extensive way, targeting an airbase in Jordan,........

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