Will Iran close the Strait of Hormuz?
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Hi, I'm Katie Silva with the BBC Business Update. Energy markets have opened for the first trading session since the US attack on Iran, with oil prices jumping to a five-month high. On opening, prices rose by 3%, but have since part-backed much of the gains. Oil prices were expected to increase following the attack over the weekend. Iran has threatened retaliation, including the closure of the Strait of Hormuz, one of the world's most important trade routes for crude oil.

West African leaders attending a summit in Nigeria have said the region faces growing threats of terrorism, climate change, military coups and poverty. The economic community of West African states ended on Sunday with a number of stark warnings. Nigeria's president, Bola Tinubu, said political instability, illicit arms flow and transnational organised crime meant it was time to overhaul the region's collective security architecture, including intelligence sharing.

Junta-led countries Mali, Burkina Faso and Nigeria all quit the bloc earlier this year, setting up their own alliances.

Air India says it's temporarily reducing its scheduled domestic and short-haul international flights to allow for safety inspections. It's also recently announced reductions to long-haul international flights. The carts follow the crash of an Air India plane shortly after takeoff earlier this month. All but one of the more than 240 people on board were killed. Nearly 30 people also died on the ground. While DNA tests have identified the majority of the dead, more than two dozen are yet to be confirmed.

Cambodia has halted importing fuel and gas from Thailand. The two countries are involved in a dispute which has led to the closure of several border crossings and a deadly military clash last month. The Prime Minister, Hun Manet, said that Cambodia would buy fuel and gas from elsewhere. Thailand is the third largest exporter of petroleum gas to Cambodia. Earlier this week, Phnom Penh suspended imports of fruit and vegetables from Thailand.

I'm Katie Silva. We'll be back at the same time tomorrow with the next BBC Business Update.

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