The U.S. strikes at more than 1,000 Iranian sites including IRGC facilities while Tehran retaliates by hitting the U.S. embassy in Riyadh. President Trump says he is prepared to extend the conflict if necessary. Oil and gas shipping prices surge as Iran claims it has blocked the Strait of Hormuz and vows to hit any vessels attempting to pass through. Qatar, meanwhile, has said it is suspending LNG production. Asian markets suffer a day in the red with the Kospi falling by more than 7 per cent. U.S. and European futures indicate continued selling later today.

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