The rise in oil prices came after Trump said Iran should pay for damages he claimed it had caused over the past 50 years, while asserting that the US Navy currently controls the Strait of Hormuz

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…

HOUSTON, Aug 10 : Oil prices jumped over 4 per cent on Monday after Iran and the United States traded demands for compensation, dimming prospects for a deal to reopen the Strait…