Oil prices surge above $100 as U.S. Navy to blockade Iran’s
Oil prices surge above $100 as U.S. Navy to blockade Iran’s ports after peace talks fail
Key Points
- The U.S. military will implement a blockade of Iranian ports starting Monday at 10 a.m. ET, according to U.S. Central Command.
- The blockade comes after peace talks with Iran failed to produce an agreement.
- President Donald Trump said he ordered the Navy to interdict any ship in international waters that has paid Iran a toll to transit the Strait of Hormuz.
- Trump is considering limited strikes on Iran, according to The Wall Street Journal.
