Crude oil prices surged on Monday following the resumption of a US naval blockade of Iranian ports and Washington's desire to impose a levy on goods transported by sea through the Strait of Hormuz.
At around 18:20 GMT, the benchmark global North Sea Brent crude had risen 9.06% to $82.90 a barrel, while its American counterpart, West Texas Intermediate crude, had climbed 9.05% to $77.87 a barrel.