Oil surged 4% after Trump rejected Iran's plan to reopen the Strait of Hormuz
Brent crude oil prices rose by 4% following Donald Trump's rejection of Iran's proposal to reopen the Strait of Hormuz. The market reacted sharply to the continued geopolitical tension surrounding this critical maritime chokepoint.
Why it matters
The Strait of Hormuz is a vital artery for global oil supply, and instability there has immediate consequences for global energy prices.
Brent crude climbed above $108 a barrel Monday after Trump…
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