With the two sides locked in a standoff, oil prices have continued to soar.

With the two sides locked in a standoff, oil prices have continued to soar.

Oil extended gains Thursday on signs of a prolonged U.S. blockade of Iranian exports and stalled nuclear negotiations.

Oil markets spooked as Donald Trump appears willing to maintain the US Navy blockade and Iran keeps strait of Hormuz all but shut

US President Trump meets with oil firms over ways to minimise impact on fuel supplies amid US blockade of Iranian ports.

In the absence of a permanent deal, the war between the US and Iran is becoming one of attrition despite huge costs.