Oil prices surge past $103 a barrel after US announces blockade of Iran
Al Jazeera·2h ago·Neutral
What Happened
US President Donald Trump announced a naval blockade of Iran on Sunday, causing Brent crude oil to surge over 8 percent to $103 a barrel. US Central Command clarified the blockade would target only Iran-bound vessels, taking effect Monday at 10am Eastern Time. The Strait of Hormuz, critical for global oil supplies, has seen reduced traffic since ceasefire talks collapsed. Asian stock markets declined Monday amid uncertainty.
Key Entities
Donald TrumpIranUS NavyBrent crudeStrait of HormuzUS Central CommandNikkei 225KOSPI