The price of oil continued to rise on Monday following reports that two Iranian missiles struck a US warship after it ignored warnings as it attempted to pass through the Strait of Hormuz.
Earlier, the IRGC Navy released a new map, designating areas of the waterway under Iranian military control after the United Kingdom Maritime Trade Operations (UKMTO) claimed that the United States had established a security corridor through Omani waters, claiming it allowed safe transit through the Strait of Hormuz.
At 6:22 am ET, West Texas Intermediate (WTI) for June deliveries jumped 5.24% to sell for $107.28 per barrel, while Brent for settlements in July advanced 5.59%, going for $114.22 per barrel a minute later.
https://breakingthenews.net/Article/Oil-surges-5-after-Iranian-strike-on-US-warship/66208923
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