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Amman, July 13 (Petra) – Oil prices surged on Monday after U.S.
President Donald Trump said the United States would reimpose a naval
blockade on Iran amid the ongoing confrontation between Washington
and Tehran over control of the Strait of Hormuz.
U.S. crude and Brent futures rose after the announcement that the
United States would begin enforcing a blockade covering all vessels,
Iran’s entire coastline, ports, and oil terminals starting at 2000
GMT on July 14.
Brent crude futures climbed 7.9% to $82.03 a barrel.
//Petra// AF
