US petrol prices dropped nine cents last week but could again surge if the strait closure continues, analysts warn.

LONDON, Aug 10 : Oil prices jumped almost 2 per cent on Monday after Iran insisted that the United States must satisfy several demands before the Strait of Hormuz can reopen.…

Brent crude prices rise as Tehran says critical waterway will not reopen without major US concessions.

Oil prices rose significantly as Iran and the United States exchanged compensation demands. Prospects for reopening the Strait of Hormuz dimmed due to these escalating tensions.…