Oil tankers and cargo ships line up in the Strait of Hormuz as seen from Khor Fakkan, United Arab Emirates, Wednesday, March 11, 2026. (AP Photo/Altaf Qadri, File) TOKYO, Japan — Oil prices

The U.S. and Iran disputed whether Hormuz was open to ship traffic after trading strikes over the weekend.

SINGAPORE: Oil prices jumped on Monday as Iran expanded strikes on Gulf states following attacks by the United States, threatening energy shipments via the Strait of Hormuz.…

Brent crude climbed above $78 and WTI gained over 3% as escalating Iran-US tensions and threats to Strait of Hormuz shipping raised global supply concerns.

Brent crude climbs 3.3 per cent in early trade to reach $78.50 a barrel

Brent surges more than 4 per cent as US-Iran conflict escalates