Oil prices rise further as Iran blocks vital shipping route

NAMPA / DPA

2026-03-03

London (PA Media/dpa) - Oil prices have risen further as the Middle East conflict intensified and after Iran took action to block a crucial shipping route for crude tankers. Brent crude rose by more than another 3% on Tuesday to stand at a one-year high of $80 a barrel, having soared by as much as 13% at one stage on Monday, rising above $82 a barrel, before paring back. An Iranian official has reportedly warned tankers on the Strait of Hormuz th......

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