Oil prices jump 4.48 percent to $105.77 as Strait of Hormuz remains disrupted

Oil prices jumped due to concerns over supply disruptions in the Strait of Hormuz, fueled by President Trump’s assessment of Iran’s response as ‘unacceptable,’ increasing market anxiety. President Trump is expected to discuss Iran as a key issue during his visit to Beijing. The Saudi Aramco CEO warned that energy markets need time to rebalance.