Oil and natural gas prices surged as the United States moved to impose a blockade on the Strait of Hormuz after weekend talks between Washington and Tehran failed to reach an agreement, exacerbating a global energy crisis that has rattled markets. Brent crude, the international benchmark, climbed as much as 9.1% to near $104 a barrel, while European gas futures jumped as much as 18%. The US Central Command said American forces would begin enforcing the blockade, which applies only to vessels entering or leaving Iranian ports, starting at 10 a.m. New York time on Monday.
