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Oil Edges Up After Hormuz Strait Flareup; WTI Climbs Back Above $70 a Barrel

Oil Strait of Hormuz Donald Trump United States Axios

Oil edged up on Monday after a flareup in the Strait of Hormuz over the past days. (Credit: Patrick T. Fallon/AFP via Getty Images)

Oil edged up on Monday after a flareup in the Strait of Hormuz over the past days.

Brent crude, the international benchmark, climbed 0.80% and clocked in at $73.19 a barrel at 8:37 a.m. ET, while West Texas Intermediate, the U.S. benchmark, gained 1.13% and went back above $70 a barrel at the same time.

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