Oil prices jumped 6% while U.S. stocks fell as renewed Middle East conflict threatens crude shipments through the Strait of Hormuz.

Brent crude futures were a long way below the war's peak prices but rose enough to wobble the bond market by increasing inflation risks.

Brent crude jumped 6.2 per cent to US$78.74 a barrel as at 5pm Singapore time. Read more at straitstimes.com. Read more at straitstimes.com.

Crude oil prices spike over 6% after Trump declares the ceasefire with Iran "over," raising geopolitical tensions.