Oil prices surge above $100 as US Navy to blockade Iran’s ports after peace talks fail

Oil futures were at over $100 per barrel in the wake of President Trump’s announcement that the U.S. military would start blockading ships looking to enter the Strait of Hormuz. Prices of U.S. benchmark West Texas Intermediate crude hovered just above $104 per barrel late Sunday night, with Brent crude oil, the international benchmark, prices…