Iran has threatened to target American businesses and allies over upcoming economic sanctions, marking a major escalation that includes a recent cyber attack on a British power plant.

Long-term government borrowing costs across major advanced economies surged to levels unseen since the 2008 financial crisis, driven by geopolitical tensions and inflation fears.

Brent crude has breached the $100-a-barrel threshold as US-Iran conflicts and Red Sea shipping disruptions strain global petroleum supplies.

Iran's Islamic Revolutionary Guard Corps intercepted four commercial vessels in the Strait of Hormuz using warning shots, as regional tensions flared alongside drone strikes in Iraq and Jordan.

Following a week of intense air strikes, the US military has targeted Iranian infrastructure, triggering retaliatory attacks across the Gulf.