Oil climbs past $100 as Trump threatens Hormuz transit blockade

Oil prices surged above $100 a barrel after President Trump threatened to block passage through the Strait of Hormuz, signaling a potential disruption to global crude flows. Brent hovered around $102 and US crude near $104 as futures dropped for stocks on the news. Analysts warned higher energy costs could feed inflation and gasoline prices, while Iran warned of a harsh response as the standoff adds to ongoing geopolitical risk in the region.