[MARKET UPDATE] Crude lifts back towards earlier highs, equities dented and the USD lifted on reports that two missiles hit a US patrol boat

Note, some of the moves are potentially being driven by wider reporting around the new Iranian control zone in the Strait of Hormuz, an updated reported at 09:45BST. Note, this has lifted USD/JPY above 157.00; desk is attentive to any potential intervention around/above this level given action in recent sessions.