Oil Prices Surge Past $111 as Trump Extends Iranian Port Blockade
Key Points: President Donald Trump ordered aides to extend the United States naval blockade on Iranian ports indefinitely. Brent crude prices climbed for an eighth straight day to reach a staggering $111.78 a barrel. Iran continues to shut down the Strait of Hormuz, cutting off 20% of global oil supplies. United States gasoline inventories plummeted by 8.47 million barrels as global energy markets rapidly tighten....