Oil prices move higher as Iran threatens response to latest U.S. strikes

Bazilfoto | Istock | Getty ImagesOil prices moved higher on Thursday after the U.S. launched a "heavy wave" of strikes against Iran late Wednesday in retaliation against its missile attacks on American forces in the region, dashing hopes for de-escalation.Iran's Islamic Revolutionary Guard Corps has threatened further escalation in response. Brent crude futures, the international benchmark, gained 1.5% to $92.10 a barrel. U.S. West Texas Intermediate futures advanced 0.9% to $85.23 per barrel.The resumption of strikes marks the latest turn in a conflict that has whipsawed oil markets and disrupted shipping through the Strait of Hormuz since fighting erupted in late February. The U.S. had halted two weeks of fire against Iranian targets last weekend, as diplomats sought to give peace talks "space."But Trump telegraphed the retaliation hours earlier, warning to order heavy strikes on Iran. "We'll be hitting them hard. They're going to get a beating," Trump told a Fox News reporter early Wednesday.U.S. Central Command described the operation as a "powerful response" to Tuesday's attempted Iranian attacks on U.S. forces in the Middle East.The two-hour-long attacks saw the U.S. hit doze...