Trump vowed to block all vessels passing through the Strait after weekend talks with Iran broke down, causing oil and natural gas prices to climb sharply.

Oil prices surged as markets reopened following news that U.S. peace talks with Iran had ended without a deal.

Oil prices go up faster than they come down, especially since the war has damaged oil infrastructure in the Middle East.

US President Donald Trump dismissed the war-related spike in oil prices as a "small price to pay" for removing the threat of Iran's nuclear threat.

Domestic energy companies could benefit from high oil prices in the short-term, but take a hit if the Iran war drags on.

Amid the escalating US Iran War, a critical situation has arisen for the oil market as the global crude oil prices continued to surge and stayed above the $100 per barrel mark, even after a slight fall. The worst is yet to come as the Macquarie Group has ...

By Nicole Jao NEW YORK, April 8 (Reuters) - Oil plummeted on Wednesday, falling below $100 a barrel, on hope of the Strait of Hormuz reopening after U.S. President Donald Trump agreed to a two-week ceasefire with Iran.

Oil prices have eclipsed US$100 per barrel for the first time in more than three and a half years as the Iran war hinders production and shipping in the Middle East.