Oil prices rise after Trump’s statements imposing a naval blockade on Iran

Oil prices rose by more than 4% on Monday, following statements by US President Donald Trump on imposing Naval blockade at Iran.
Brent crude futures increased by $3.21 per barrel, or 4.22%, to reach $79.22 per barrel.
While US West Texas Intermediate crude rose by $3.04, or 4.26%, to reach $74.45 per barrel.

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