Oil Surges, US Futures Drop on Hormuz Blockade: Markets Wrap

Oil surged and US equity futures slid after President Donald Trump ordered a blockade of the Strait of Hormuz, escalating tensions with Iran following the collapse of peace talks. The...

By Matthew Burgess · Bloomberg Markets

Oil surged and US equity futures slid after President Donald Trump ordered a blockade of the Strait of Hormuz, escalating tensions with Iran following the collapse of peace talks. The dollar rose.