Oil price tops $100 a barrel after peace talks fail and Trump orders blockade

US Navy to impose blockade today in bid to choke off flow of Iranian oil Explainer: strait of Hormuz blockadeBusiness live – latest updatesOil prices jumped back above $100 a barrel and global stocks fell after weekend talks between the US and Iran ended without an agreement and Donald Trump imposed a blockade of the strait of Hormuz.The US president announced the blockade on Sunday, targeting Iranian vessels and ships that have paid a toll to Iran for passage through the strait, in an attempt to choke off the flow of Iranian oil. Continue reading...