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

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.

Oil briefly topped $126 on Asian markets on news the United States might resume bombing Iran and the Hormuz Strait closure could continue for months.