Oil prices rise after US announcement it would blockade Iran’s ports

NEW YORK (AP) — Oil prices rise in early market trading on Sunday after the US said it would blockade Iranian ports beginning on Monday.

The price of US crude oil rose 8 percent to $104.24 a barrel, and Brent crude oil, the international standard, rose 7% to $102.29.

Brent crude has swung dramatically during the Iran war, rising from roughly $70 per barrel before the war in late February to more than $119 at times. On Friday, ahead of the peace talks, Brent for June delivery fell 0.8% to $95.20 per barrel.

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