Oil prices edge higher as Iran threatens Strait of Hormuz
Business
Oil prices nudged higher on Monday after Iran threatened to block the Strait of Hormuz, a waterway for shipping.
Brent crude rose slightly to $88.54, while US and Indian oil futures saw small dips, reflecting market jitters over possible disruptions.
Iran rejects US talks over Hormuz
Iran's leaders say they won't talk to the US unless their demands about controlling the strait are met, with officials making it clear they plan to keep a tight grip on this vital route.
Meanwhile, former President Trump told supporters he'd pay more at the pump if it meant stopping Iran from getting nuclear weapons, even hinting at declaring the strait US territory after the conflict ends.