Oil surge as Trump says to blockade Hormuz after Iran talks fail
The US military said it will begin a blockade of all maritime traffic entering and exiting Iranian ports and coastal areas on Monday, after weekend talks failed to reach a deal to end the war with Iran, jeopardizing a fragile two-week ceasefire.
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The world economy is experiencing a flashback to the 1970s. Oil prices are surging in the wake of war in Iran, and that's driving up the cost of gasoline.
