New Delhi, April 13 -- The oil prices reacted sharply to the United States President Donald Trump's statement over the blockage of Strait of Hormuz jumping above $100 a barrel on Monday.
Reportedly, the US Navy prepared the blockade that could restrict Iranian oil shipments after the US and Iran failed to reach a deal to end the war.
On Monday morning, the Brent crude futures rose $7.60, or 7.98 per cent, to $102.80 a barrel by 2310 GMT after settling 0.75 per cent lower on Friday.
US West Texas Intermediate was at $104.88 a barrel, up $8.31, or 8.61 per cent, following a 1.33 per cent loss in the previous session.
Brent crude has swung during the Iran war, rising from roughly $70 per barrel before the war in late February to more than ...