Oil prices are now at their highest since the two countries signed a memorandum of understanding to end the war on June 17

Oil prices have jumped more than 4 percent on Monday following renewed strikes between the US and Iran threatening their fragile peace agreement.

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,…

Oil prices climbed to their highest level in four weeks on Tuesday after the United States reinstated a naval blockade on Iran and intensified military strikes, while Tehran…