Crude and diesel contracts rose sharply around midday Monday, after President Trump said he is reimposing the U.S. blockade on Iranian shipping, dashing hopes that the Middle East conflicts would end anytime soon.

As of 5:21 p.m. Moscow time, Brent crude was up 5.29%, trading at $80.03 per barrel

Crude and diesel contracts rose sharply around midday Monday, after President Trump said he is reimposing the U.S. blockade on Iranian shipping, dashing hopes that the Middle East…

Crude oil futures climb as Trump reinstates a blockade on Iranian ports, significantly impacting shipping costs and market dynamics.