Brent jumps 7% to $102 as markets open after U.S. announces blockade of Iranian ports
In early trading, U.S. crude rose 8% to $104.24 a barrel and Brent rose 7% to $102.29 after the U.S. said it would blockade Iranian ports, AP reported; Brent had closed Friday at $95.20. Lloyd’s List Intelligence said all traffic through Hormuz stopped after Trump’s announcement.