Oil prices soared at the opening of the markets on Monday as traffic through the Strait of Hormuz, a vital artery for the movement of crude oil, faces serious disruption.

The prospect of a blockade of the Strait of Hormuz, which one-fifth of the world's total oil supply, notably from Saudi Arabia and the United Arab Emirates, passes through, or…

Brent crude rose by 13% during early trading and stock markets came under pressure as US-Israeli strikes on Iran raised fears of disruption