Oil prices climbed on Tuesday after the United States said it had carried out strikes on missile launch sites in Iran, casting doubt on the prospects of a peace deal.

The strike followed signals from Israel that it planned to intensify its campaign against the Iranian-backed militant group Hezbollah in Lebanon. Iran has said any agreement would need to address both its war with the United States and Israel, as well as the fighting between Israel and Hezbollah, complicating efforts to reach a lasting resolution.

Read more in the New York Times here.

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