Iran’s plan to extract a $2m payment from tankers using the strait of Hormuz could raise costs for years to come

Oil and gas prices have jumped again as shipping through the strait of Hormuz came to a virtual standstill. Lucy Hough speaks to the Guardian’s energy correspondent Jillian Ambrose

Iran’s plan to extract a $2m payment from tankers using the strait of Hormuz could raise costs for years to come

Brent oil has risen above $100 per barrel again as tanker traffic through the strait remains at a near standsill.