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Economy
Oil prices jumped to exceed $100 per barrel during early Monday trading, as the US Navy prepares to take control of ship traffic in the Strait of Hormuz — a step that could limit Iranian oil exports — after Washington and Tehran failed to reach an agreement to end the war.
Brent crude futures rose by $6.71, or 7.05%, to $101.91 per barrel by 01:04 GMT, after closing down 0.75% on Friday.
US West Texas Intermediate crude reached $104.16 per barrel, up $7.59, or 7.86%, after falling 1.33% in the previous session.
