Oil jumps by more than 3% in light of tensions in the Strait of Hormuz

Oil prices rose with America’s strikes on Iran, threatening energy shipments through the Strait of Hormuz.

Brent crude futures increased $2.67 per barrel, or 3.51%, to $78.68 per barrel by 2204 GMT on Sunday evening, and US West Texas Intermediate crude rose $2.48, or 3.47% to $73.89 per barrel.