LONDON, July 15 : Oil extended gains by around 2 per cent on Wednesday as President Donald Trump reimposed a naval blockade on all Iranian ports and Iran's Islamic Revolutionary Guard Corps threatened to close "all other export corridors that benefit the U.S. and its allies".Brent futures climbed $1.71, or 2

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

Brent crude surged 9.6 per cent to close at US$83.30 per barrel on July 13. Read more at straitstimes.com. Read more at straitstimes.com.

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…