Oil jumps 4% as new military strikes threaten Hormuz shipments
Oil prices surged over 4% on Monday as energy shipments via the Strait of Hormuz remained under threat, with the US and Iran announcing renewed military strikes.
The escalating attacks cast further doubt on the future of an interim US-Iranian agreement signed last month that aimed to reopen the strait and end the war after a further 60 days of negotiations.
US President Donald Trump said on Sunday that the Strait of Hormuz is open to commercial traffic, although Iran declared earlier that it closed the strait after a vessel traveled on an unapproved route and was struck.
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