Heightened fears of Strait of Hormuz supply disruption push Brent up nearly 5%

Brent crude rises amid clashes in critical waterway.

Heightened fears of Strait of Hormuz supply disruption push Brent up nearly 5%

While the Strait of Hormuz remained largely closed, keeping global energy supplies tight, oil prices jumped $3 a barrel on Monday.

Global oil prices jumped after Donald Trump rejected a Iranian counter-offer to a 14-point U.S. plan to end the war as "totally unacceptable."