By Kanoko Matsuyama

(Bloomberg) -- Oil jumped — after gaining almost 3% on Tuesday — as the US launched a wave of strikes against Iran in retaliation for a spate of attacks on shipping in the Strait of Hormuz.

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West Texas Intermediate surged above $72 a barrel, while Brent closed near $74. US forces "have begun launching a series of powerful strikes against Iran to impose heavy costs for targeting and attacking commercial shipping," US Central Command said in a social-media post. Explosions were heard on an island close to the strait, Iranian news agency Mehr reported.

In addition to the renewed fighting, the US Treasury revoked a sanctions waiver that had allowed Tehran to sell oil globally, reversing course on a key element of the interim peace deal agreed with the Islamic Republic. Three ships were attacked in the waterway, including a gas carrier and a Saudi oil tanker.

Oil's rebound, after futures had plunged in the second quarter as regional tensions cooled, threatens a new wave of disruption for global energy markets. The attacks — both against commercial vessels and the US reprisals — stand to dissuade shipowners and regional producers from attempting transits of Hormuz, which links Persian Gulf suppliers to global markets.

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Separately, a US industry report showed a modest draw of crude oil in US stockpiles, including at the key hub in Cushing, Oklahoma. Official figures are due later on Wednesday.

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