OIL PRICES RISE TO $100-A-BARREL THRESHOLD

LONDON, MAY 26 /SRNA/ - Oil prices climbed back to the $100 a barrel level, while the dollar strengthened after new US military strikes on Iran diminished hopes for a near-term agreement on reopening the Strait of Hormuz.

Brent crude rose by nearly 4.5 percent and is now trading at $100.41 per barrel, AP reported. The United States and Iran are working on an agreement to end the conflict and reopen the key shipping route for tanker and cargo traffic. A fragile ceasefire has been in place since April 8. Following the new strikes, Tehran announced it was prepared to retaliate after accusing Washington of violating the ceasefire. US Central Command described the strikes as "self-defense attacks."