Post by Vanguard Newspapers (@vanguardngrnews)

Oil prices shot up around nine percent Monday as President Donald Trump announced the reimposition of a US naval blockade on Iranian ports while the two sides traded attacks.

Near 1820 GMT, Brent oil futures jumped 9.1 percent to $82.90 a barrel while US benchmark West Texas Intermediate also climbed by 9.1 percent, to $77.87 a barrel. The surge came as the two countries clashed over control of the Strait of Hormuz, a key waterway for petroleum shipments.

AFP

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Source: https://www.vanguardngr.com/2026/07/oil-prices-jump-9-to-82-90-on-worsening-us-iran-conflict/

Oil prices shot up around nine percent Monday as President Donald Trump announced the reimposition o...

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