Oil Jumps Over $6 On Iran Report Of Halted U.S.-Tehran Exchanges, Hormuz Blockade Risk

Israel

The fighting in the Middle East dimmed hopes that the U.S. and Iran could soon announce an extension to their ceasefire. NEW YORK, June 1 (Reuters) - Oil prices surged more than $6 per barrel on Monday after Iran’s Tasnim news agency reported that Tehran’s negotiating team has halted message exchanges with the United States and its allied “Resistance Front” are considering measures to completely block the Strait of Hormuz and choking other waterways including the Bab el-Mandeb Strait. The