Oil prices volatile after Trump’s Strait of Hormuz threat

(Ben German – Axios) Oil prices remained well north of $100 per barrel after markets opened Sunday, with the Iran war moving into its fourth week. The price suggests that traders don’t see a near-term end to the conflict, or risks to oil transit in the Strait of Hormuz that’s throttling supplies on an unprecedented scale. It’s the first major trading since President Trump said Saturday night that Iran has 48 hours to reopen the Strait of Hormuz or else the U.S. will start destroying the nation’s power plants. The global benchmark Brent crude initially rose into the $113 a barrel range before dipping slightly and hovering around the $111 mark on Sunday night. – Oil prices volatile after Trump Strait of Hormuz threat