Commodities
Oil Rises as Trump Renews Threats Against Iran With Hormuz Shut
An oil rig in the Port of Cromarty Firth during sunrise in Cromarty, UK.
Photographer: Jason Alden/BloombergOil rose for a third day as President Donald Trump again pressured Iran to come to a deal to end weeks of war and reopen the crucial Strait of Hormuz.
Brent advanced above $110 a barrel, after adding almost 8% last week, while West Texas Intermediate rose toward $107. Trump posted on social media Sunday that “For Iran, the Clock is Ticking, and they better get moving, FAST, or there won’t be anything left of them. TIME IS OF THE ESSENCE!”