Global crude benchmarks jumped over 2% on Thursday as tensions in the Middle East escalated once again, with Iran announcing that the Strait of Hormuz is “closed to all vessels.” Tehran’s move came after the US military launched fresh strikes on multiple sites in Iran.

June 11 : Oil prices climbed more than $2 a barrel Thursday as Iran declared the critical energy chokepoint, the Strait of Hormuz, closed after the U.S. launched additional…

Oil prices surged over $2 a barrel after Iran announced the closure of the Strait of Hormuz, a critical shipping route, following U.S. strikes. Iran warned of attacks on any…