Brent Crude Oil Jumps 11% to $83.31 on Monday as Trump Moves to Control Strait of Hormuz

Brent crude oil surged 11% to $83.31 on Monday, marking one of the sharpest daily gains since the US-Iran conflict escalated in late February. The rally was driven by renewed US military strikes on Iranian targets over the weekend and Washington's plan to take direct control of the Strait of Hormuz, a corridor carrying roughly one-fifth of global oil trade.

Shipping data revealed the geopolitical standoff is already disrupting supply routes. Only nine vessels crossed the strait in a 12-hour window on Sunday, compared with approximately 130 daily crossings before the conflict, after Iran declared the waterway closed and warned ships against unauthorized crossings.