Oil prices jumped over 2% on Tuesday as uncertainty lingered over a U.S.-led coalition to protect shipping through the Strait of Hormuz.

Brent crude tops $106 a barrel as markets see no end in sight to the halt of traffic through the critical waterway.

Oil prices jumped over 2% on Tuesday as uncertainty lingered over a U.S.-led coalition to protect shipping through the Strait of Hormuz.

Oil prices rose more than 2 percent on Tuesday, reversing some of the previous session’s losses, on worries about supply with the Strait of Hormuz mostly shut and US allies…