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The Independent UK

National

Elaine Kurtenbach

Oil prices jump as US-Iran tensions over Strait of Hormuz simmer yet again

Strait of Hormuz United States Iran Oil Donald Trump Abbas Araghchi Asia US Navy

Oil prices climbed more than 5 per cent on Monday, while Asian shares also advanced, as a standoff between Iran and the United States prevented tankers from using the Strait of Hormuz.

The Persian Gulf waterway was closed again after Iran reversed a decision to reopen the strait, and President Donald Trump said a US Navy blockade of Iranian ports remains in effect.

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One subscription that gives you access to news from hundreds of sites

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