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;Resize=(620)) U.S. President Donald Trump said on Thursday he would hold ?Iran accountable for any attacks by Yemen's Houthi militants, who ?said this week they ?were imposing a naval blockade on Saudi Arabia.
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The recent rebound reflects traders' growing concern about the expanding war, which now extends from the Persian Gulf to the Red Sea.
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Futures contracts reflect an expectation that low inventories and midterm elections are likely to push the Trump administration to try to ease tensions with Iran.
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More than eight million households have been placed under hosepipe bans - which has raised questions about how effectively water resources are being managed.
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Oil prices rose Thursday to their highest level since early June after the latest Iran war escalation threatened severe new disruption to global supplies.
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At a tense moment for trans-Atlantic trade, the European Union accused Google of anti-competitive business practices.
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The president has attended two previous dignified transfers since the war began; this is the first since he declared the ceasefire over.
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The risk of continued fighting and a threatened blockade in the Red Sea added to uncertainty about the flow of energy from the region.
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