Oil prices surge on Trump's blockade vow, failed U.S.-Iran talks

Oil prices jumped over 7% to well over $100 per barrel when markets opened Sunday evening. Why it matters: The latest surge shows that traders don't see last week's ceasefire deal reviving large-scale tanker transit through the Strait of Hormuz — and it undoes a large amount of the price drop that followed the pause in hostilities. Continued high prices will delay major relief at U.S. gasoline pu
Source
Axios
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