Oil Prices Soar as Hormuz Fears Return, Brent Tops $109 and WTI Sees Biggest Jump Since 2020

Oil shot higher Thursday, with Brent topping $109 a barrel and U.S. crude WTI climbing past $111, after President Donald Trump confirmed Washington would press on with attacks against Iran and offered no indication of when the vital Strait of Hormuz might reopen. That spike delivered WTI its steepest daily gain since 2020.