New Delhi, April 30 -- Brent crude oil prices surged above USD 120 per barrel on Thursday after US President Donald Trump said the naval blockade of the Strait of Hormuz will continue until Iran agrees to a deal with the United States.

In an exclusive interview with Axios on Wednesday, Trump said the blockade is being used as a key tool to pressure Iran over its nuclear programme.

"The blockade is somewhat more effective than the bombing. They are choking like a stuffed pig. And it is going to be worse for them. They can't have a nuclear weapon," Trump told Axios.

According to Axios, Trump rejected Iran's proposal to first reopen the Strait of Hormuz and lift the blockade before holding nuclear talks. Instead, he has insisted that Iran...