Standoff in the Strait of Hormuz is pushing global oil prices above $120 per barrel, with average gas prices in the US hitting a four-year high.
US President Donald Trump says Washington’s blockade of Iranian ports has been a success and urges Tehran to “just give up”.
Iran’s military warns of “unprecedented action” if the US blockade continues, saying that “the restraint shown by armed forces so far has been intended to give diplomacy a chance”.
