Oil jumps, stocks drop as Iran tightens grip on Strait of Hormuz
By Karen Brettell and Nell MackenzieOil prices jumped 6% on Monday and stocks fell as Iran escalated its military campaign, hitting several ships in the Strait of Hormuz and setting a UAE oil port ablaze.Brent futures ICEEUR:BRN1! rose $6.27, or 5.8%, to settle at $114.44 per barrel, while…
By Karen Brettell and Nell MackenzieOil prices jumped 6% on Monday and stocks fell as Iran escalated its military campaign, hitting several ships in the Strait of Hormuz and setting a UAE oil port ablaze.Brent futures ICEEUR:BRN1! rose $6.27, or 5.8%, to settle at $114.44 per barrel, while…
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