Air strikes reported across the Middle East as conflict blocks Strait of Hormuz

After a major surge in crude oil prices on Monday, global energy prices have tumbled and stock markets rebounded

The conflict has effectively blocked vital shipping lanes through the Strait of Hormuz. Picture: AP Photo/Hussein Malla.

The US and Israel traded air strikes with Iran across ​the Middle East on Wednesday as the besieged Tehran government warned its state security forces were ready with "fingers on the trigger" to confront any anti-government protests.