Oil prices shot back above $100 a barrel on Monday as US-Iran talks collapsed and President Trump ordered a blockade of the Strait of Hormuz. Brent crude rose 8.5% to $102.37, while WTI jumped 9% to $105.34. Asian markets tumbled, and global energy crisis fears are growing.
In this video, we break down:
Why the US-Iran ceasefire fell apart
How the Strait of Hormuz blockade impacts global oil shipments
The reaction from Iran's Revolutionary Guards
What this means for gas prices and stock markets worldwide
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