By Myra P. Saefong and Tomi Kilgore

Oil prices sharply rose on Monday afternoon as Iran suspended all indirect talks with the US and vowed to fully close the Strait of Hormuz.

Global oil prices tumbled by around 20 per cent from 2026 highs in May as investors grew increasingly optimistic on prospects for a long-lasting ceasefire deal between the U.S.…

The Strategic Petroleum Reserve saw another huge drawdown this week...

By Myra P. Saefong and Tomi Kilgore