Iranian drone attack near Oman sends oil prices to $114
Oil prices jumped over 5% on Monday, hitting $114 a barrel, after an Iranian drone attack on a United Arab Emirates oil tanker near Oman.
The Strait of Hormuz, near where this happened, is a major route for global oil, so any trouble there quickly affects energy costs around the world.
Iran also said it's expanding its control in the area, raising concerns about what happens next.
US to provide maritime security support
The US said it would provide military support, including guided-missile destroyers, aircraft and drones, to help keep shipping safe and get oil moving again, but shipowners are holding back until they see clear safety plans.
Iran warned against US involvement, adding to the standoff.
With no quick fix in sight, oil prices are staying up, and that means more worries about energy shortages and economic fallout globally.