The price of crude oil surged again with benchmark Brent rising for a second straight day to more than $87 per barrel, and U.S. crude blowing past $80.

By Helen Clark PERTH, July 15 (Reuters) - Oil rose on Wednesday as President Donald Trump reimposed a naval blockade on all Iranian ports and Iran launched retaliatory strikes on U.S. infrastructure in the region.

Stock futures pointed in different directions Tuesday as rising energy prices, bank earnings, and key inflation data competed for investor attention

Oil prices are climbing Monday following a weekend of attacks in the Middle East, while more losses for computer chipmakers and

Oil prices on Tuesday were continuing to climb from the previous session, with both the U.S. and global benchmarks on track for their largest two-day advances in four months, as the U.S. launched strikes on Iran for the third night in a row.

For decades, OPEC influenced the market by how much oil it produced. But China, the largest importer, is demonstrating its remarkable power over prices.

Stock market today: The unexpectedly soft US CPI reading triggered a sharp shift in rate expectations, with the probability of a July Fed hike falling from 42 per cent to 17 per cent

Stocks fall and oil prices rally, while government bond yields rise, after US and Iranian forces renewed exchanges of heavy missile and drone assaults, with Tehran saying it had again closed the vital Strait of Hormuz.