Oil tankers and cargo ships line up in the Strait of Hormuz as seen from Khor Fakkan, United Arab Emirates, Wednesday, March 11, 2026. (AP Photo/Altaf Qadri, File)
TOKYO, Japan — Oil prices opened sharply higher on Monday after the United States launched a wave of attacks on Iran and as Tehran announced it would close the Strait of Hormuz.
A barrel of international benchmark Brent crude for September delivery rose 3.75% to $78.86 at around 2210 GMT on Sunday.
READ: US military says began new wave of strikes in Iran
US benchmark West Texas Intermediate rose 3.65 percent to $74.02 per barrel for August delivery.
