Oil prices surged by nearly 7% following last Friday's 10% drop, after Iran closed the Strait of Hormuz over the weekend due to the US naval blockade.
US President Donald Trump said on Sunday that the US Navy fired at, and seized an Iranian container ship in the Gulf of Oman, prompting Tehran's quick vow to respond.
West Texas Intermediate futures for deliveries in May jumped by 6.10% to $87.69 per barrel at 6:20 pm ET, while Brent for June delivery surged by 6.18% and sold for $95.98 a barrel.
https://breakingthenews.net/Article/Oil-jumps-nearly-7-after-US-Iran-tensions-rise/66099057
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