The global energy market faced a sharp jolt Monday morning as oil prices surged more than 5%, fueled by a deepening standoff between the United States and Iran that has effectively choked off the Strait of Hormuz. The critical waterway remains closed to tanker traffic after Iranian authorities rever sed an earlier decision to reopen the […] Strait Of Hormuz Gridlock Sends Oil Skyward As Global Markets Shiver ...read more read less