Oil jumps 8% to above $100 ahead of US blockade on Strait of Hormuz

Global oil prices surged above $100 a barrel, rising about 8%, as the U.S. Navy prepared a blockade of the Strait of Hormuz after Washington and Tehran failed to reach a deal to end the war, threatening Iranian oil shipments. source http://www.adaderana.lk/news.php?nid=121155