Brent crude (OIL) rises past $120 amid Hormuz blockade

AI Summary

Brent crude prices increased for the eighth consecutive day, surpassing $120 per barrel. This rise follows U.S. President Trump's announcement of an extended naval blockade in the Strait of Hormuz. The blockade could impact global oil supply dynamics and lead to further price fluctuations. The continued increase in oil prices may affect energy markets and investor sentiment regarding oil-related assets.