Oil prices surge as violence flares in Strait of Hormuz

Oil prices have risen sharply as violence in the Strait of Hormuz cast doubt over the fragile ceasefire between the United States and Iran. Brent crude, the primary benchmark for oil prices worldwide, rose by nearly 6 percent on Monday to $114.44 a barrel. Recommended Stories list of 4 items end of list Brent futures eased somewhat on Tuesday morning, trading at $113.54 as of 02:00 GMT. …