Prices have now climbed to their highest levels since US and Iran signed memorandum of understanding aimed at ending conflict

Trump says the U.S. “will be reimbursed” for helping ships through the Strait of Hormuz. The international oil benchmark, Brent, surpassed $80 per barrel.

Iran says it will not allow Washington to intervene in the Strait of Hormuz

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…

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