{"text":[[{"start":8.1,"text":"Oil prices jumped as markets opened after an escalation of hostilities in the Middle East threatened to shatter a fragile truce and undermine prospects of a deal to reopen the Strait of Hormuz. "}],[{"start":19.65,"text":"Brent crude, the international benchmark, rose more than 3 per cent to over $96 a barrel after Iran fired ballistic missiles at Israel in the first such attack since a ceasefire was implemented between the countries in April. "}],[{"start":34.15,"text":"In Asian trade, it rose further — up 3.8 per cent at $96.64. West Texas Intermediate, the US marker, was up 4.6 per cent at $94.68. "}],[{"start":48.95,"text":"The Iranian attack followed an Israeli strike on Beirut that Tel Aviv said targeted the Iran-backed Hizbollah militant group."}],[{"start":57.800000000000004,"text":"“Fresh fighting is jolting oil and equity markets from their deep and persistent optimism that peace is at hand and the worst of the Hormuz disruption lies behind us,” said Bob McNally, president of consultancy Rapidan Energy. "}],[{"start":71.45,"text":"Traders fear that the back and forth could escalate into a return to all-out conflict in the Middle East and snuff out hope of a deal to reopen the Strait of Hormuz."}],[{"start":81.5,"text":"The narrow waterway, through which a fifth of global oil supply usually transits, has been all but closed by Tehran since the US and Israel launched their initial attacks on Iran in late February."}],[{"start":93.95,"text":"Brent has risen as high as $126 a barrel since the conflict broke out as global supplies are stretched thin, driving up fuel prices and prompting a surge in inflation in economies around the world. "}],[{"start":106.65,"text":"As higher prices erode his popularity with voters, Donald Trump has pushed hard for a peace deal in recent weeks. "}],[{"start":113.4,"text":"The US president told the FT on Sunday that the attacks would have no impact on Washington’s ability to strike a deal with Iran and insisted that Israel “won’t have any choice” but to accept it. "}],[{"start":126.05000000000001,"text":"“The deal may make it on its own merit, or not, but this will not have any effect on it,” he said. He told Fox News separately that he had instructed Israeli Prime Minister Benjamin Netanyahu not to retaliate against Iran. "}],[{"start":140.05,"text":"Analysts said Trump’s aggressive drive to reach a deal had tempered what could otherwise have been a far greater jump in oil prices as markets bet the president would pull out all the stops to bring the war to a close. "}],[{"start":153.05,"text":"“The true risk here is a spiralling back into open conflict, no ceasefire and the risk of upstream energy infrastructure damage,” said Rory Johnston at oil market consultancy Commodity Context."}],[{"start":165.55,"text":"“At this stage, the market is seeing how vehemently against this prospect Trump is and, in some ways, this episode, while obviously a negative from the perspective of a deal, almost further reinforces the market’s belief in that.”"}],[{"start":186.5,"text":""}]],"url":"https://audio.ftcn.net.cn/album/a_1780893633_6260.mp3"}