Oil prices surged 5% as hopes for reopening the Strait of Hormuz fade. New all-time high for crude by December 31 at 12.5% YES.

HOUSTON, Aug 10 : Oil prices jumped 3 per cent on Monday after Iran said the U.S. must lift sanctions on Tehran, pay reparations and meet a number of other conditions before the…

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.…

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.…