Iran War News LIVE: Oil Prices Extend Gains As Iran Says A Deal With Oman On Hormuz Is Just Days Away

(MENAFN- Live Mint) Iran war news LIVE: Oil prices extended gains on Monday (local time) as traders closely monitored details of an Iranian deal with Oman to manage shipping through the Strait of Hormuz, which could tighten Tehran's control over the waterway. Brent crude settled at $97 on Monday while West Texas Intermediate (WTI) traded near $93 a barrel. Iran said the accord is in its final stages and will include a temporary safe route through Hormuz, raising questions about how the US would respond after the American military struck Iranian tankers over the weekend. Tehran also warned that ships face the risk of attack near Oman increases gas prices for its heaviest consumers as economy strugglesTehran on Tuesday (local time) introduced a higher price for its heaviest gasoline users, in the latest economic pinch caused by months of war, making it the second such hike since December, state media reported. Without specifically mentioning the war with the United States, the government's announcement cited the“current situation”, adding that the additional revenue from the price increase would be given to households. According to reports, under the new system, people buying more than their monthly quota of 110 litres (29 gallons) of gasoline must pay 100,000 rials (seven cents) per litre, or twice what they have been paying since December says improved ballistic missile shows it will take preemptive actionOn Monday, Iranian state media said that a ballistic missile with improved capabilities was highlighting a new doctrine that Tehran \"will take action against any threat, even before it is carried out.\" The report by the state news agency reportedly carried remarks from the head of Iran's Supreme National Security Council, Mohsen Rezaei, who boasted of new missile capability, claiming that it had been \"tested\" against a US warship. According to reports, Tehran's messaging in recent days has become more assertive, and Monday's report said the Qassem Basir marks \"a turning point in Iran's defense strategy\". It described the missile as having greater range and accuracy and a half-tonne warhead. The missile was unveiled last year, when it was described as having at least a 1,200-kilometre range says Israel carried out a wave of deadly strikesLebanon's health ministry on Monday said that Israel carried out a barrage of airstrikes in south Lebanon, killing at least 13 people, including women and children. Israel's military vowed to continue targeting Hezbollah, accusing the Iran-backed militants of repeated violations of a ceasefire in place since June. Tel Aviv hit swathes of southern Lebanon during the Middle East war that erupted with joint US-Israeli strikes on Iran, and its forces continue to occupy what it calls a \"security zone.\"Stay tuned to this LIVE blog to catch all the latest updates on the Iran war:

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