Oil Prices Surge on Trump’s Blockade Threat

“Oil prices jumped over 7% to well over $100 per barrel when markets opened Sunday evening and remained high into Monday,” Axios reports.

“The latest surge shows that traders don’t see last week’s U.S.-Iran ceasefire deal reviving large-scale tanker transit through the Strait of Hormuz — and it undoes a large amount of the price drop that followed the pause in hostilities.”