Oil prices rose about two percent to a one-month high on Tuesday after the US imposed a naval blockade and launched new strikes on Iran.

Benchmark Brent crude rose 4% to 79 US dollars a barrel as America and Iran both claimed control over the vital Strait of Hormuz.

Oil prices surge after US strikes on Iran escalate tensions. New all-time high for crude oil by September 30 at 5.3% YES.

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…