Oil prices surged by more than 7% back above $100 a barrel on Monday after US President Donald Trump ordered the blockading of Iranian ports following the failure of peace talks between Washington and Tehran.
Iran’s oil exports haven’t collapsed since the war in the Middle East began—Tehran continues to ship its oil through the Strait of Hormuz while targeting and warning tankers carrying crude from its Gulf neighbors that their ships would be blown up if they attempt to cross the Strait. Since March 1, the day after the […]