Oil prices rise again with little sign of war on Iran ending

Oil prices are spiking as efforts to resolve the crisis remain at an impasse, with Tehran blocking the Strait of Hormuz and the US Navy blockading Iranian ports. Brent crude, the international benchmark, has risen to $111.29 a barrel, poised for a 5.7 percent gain over the week. The Strait of Hormuz, through which one-fifth of the world's oil and LNG supplies are shipped, remains a critical point of contention.