Oil Prices Surge Past $100 as Trump Threatens to Blockade the Strait of Hormuz ...Middle East

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Oil Prices Surge Past $100 as Trump Threatens to Blockade the Strait of Hormuz
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Oil prices surged back above $100 a barrel in early Asian trade following the collapse of U.S.-Iran negotiations and Trump's announcement that the U.S. would blockade the Strait of Hormuz. At the time of writing, West Texas Intermediate was trading at $105.30 per barrel, up 9.04%, while Brent had risen 8.55% to trade at $103.30. Both benchmarks remain roughly $10 below last week's peaks before the ceasefire was announced and prices tumbled. While the failure of negotiations in Pakistan over the weekend is helping to push crude prices higher, it…

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