Oil prices surge on Trump's blockade vow, failed U.S.-Iran talks
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Oil prices jumped over 7% to well over $100 per barrel when markets opened Sunday evening.Why it matters: The latest surge shows that traders don't see last week's ceasefire deal reviving large-scale tanker transit through the Strait of Hormuz — and it undoes a large amount of the price drop that followed the pause in hostilities.Continued high prices will delay major relief at U.S. gasoline pumps, where regular gasoline prices dipped slightly in recent days and currently average $4.13-per-gallo
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