Oil Prices Today: Brent Jumps Toward $96 as U.S.-Iran Ceasefire Wobbles
Oil prices surged over 6% Monday after the U.S. seized an Iranian cargo ship, raising fears over the Hormuz Strait’s security. Brent crude climbed to $95.9 a barrel, while at least two merchant ships reported gunfire during passage. More than 20 vessels crossed Hormuz Saturday, the busiest day since March 1. Iran and China called for restraint, but 10–11 million barrels per day remain offline.