Oil Jumps as Trump Says US to Reinstate Blockade of Iranian Shipping in Hormuz
() -- Oil prices were rising Monday as President Donald Trump said the US was reinstating a blockade of Iranian shipping in the Strait of Hormuz amid growing tensions in the Middle East. West Texas Intermediate crude was up 7.4% at $76.72 a barrel in afternoon trade, while Brent gained 7.5% to $81.75. The US and Iran c