Oil market becomes hostage to Iran war

• IMO to weigh Hormuz threats at extraordinary session as US Navy ‘not ready to escort ships’• Iran denies mining strait, offers passage to ships that coordinate with its navy• Trump says US ‘making lot of money’ from higher oil prices; boasts of victory ‘in the first few hours’• At least one person killed as IRGC hits more ships in Persian Gulf• First six days cost Pentagon over $11bn; Larijani says they will make US ‘regret starting war’• Drone, missile attacks continue across Gulf region• Tehran slams UN Security Council resolution that didn’t mention US-Israeli aggression