Ship hit in Hormuz as Iran’s top negotiator says strait to stay shut

Iran threatens escalation as Hormuz shipping slows and oil prices surge

Shortly after Trump’s comments, international oil benchmark Brent jumped above $91 per barrel.

Brent crude rose above $90 a barrel for the first time since 30 July, and was trading at $91.63 on Tuesday morning.

The warning came as Washington ruled out extending a temporary ceasefire agreement, raising fears that the conflict could intensify.