Oil jumps 2.2% as President Trump warns Iran over Hezbollah
Business
Oil prices jumped 2.2% on Monday as things heated up between the US and Iran.
President Trump warned Iran about possible military action if Hezbollah's attacks on Israel continue, pushing Brent crude to $82.30 a barrel and West Texas Intermediate above $78.
Swiss talks to keep Hormuz open
Despite rumors that peace talks had stopped, negotiations in Switzerland are still underway to ease tensions and keep the crucial Strait of Hormuz open for shipping.
Trump also threatened "severe consequences" if Iran blocked the strait, but so far, oil shipments haven't been seriously affected, and refiners are finding workarounds while hopes for a resolution grow.