Oil prices resumed their climb and Asian markets mostly declined on Monday as the US military prepared to blockade ships entering or leaving the Strait of Hormuz, where most shipping has been stalled by Iran since the start of the war.
Oil prices have been rising as shipping through the strait has essentially stalled since late February. Brent crude oil, the international standard, has gone from roughly $70 per barrel before the war in late February to more than $119 at times.
