Oil prices are rising in early trading as a standoff between Iran and the U.S. prevented tankers from using the Strait of Hormuz, the Persian Gulf waterway that is crucial to global energy supplies

Oil prices have climbed more than 5% while Asian shares also advanced as a standoff between Iran and the U.S. prevented tankers from using the Strait of Hormuz

The Big Money Show' discusses President Donald Trump's Strait of Hormuz blockade, global oil disruption, and a widening geopolitical crisis.

Oil prices are climbing Monday following the latest rise of tensions between the United States and Iran, but the moves are more modest than they were earlier in the war. U.S. stocks, meanwhile, are giving back a bit of their record-breaking rally.

Oil prices slightly trimmed earlier gains, but uncertainty over peace talks between the U.S. and Iran kept markets on edge.

Iran threatened retaliation after the seizure in the Gulf of Oman, and it wasn't clear whether Tehran would attend talks in Pakistan, with a ceasefire set to expire Wednesday.

CAIRO — Iran doubled down on its pledge to restrict ships passing through the Strait of Hormuz as long as the U.S. blockade of Iranian ports remains in place, as mediators scrambled to extend the ceasefire set to expire on Wednesday.

President Donald Trump says the U.S. seized an Iranian-flagged cargo ship that tried to get around its naval blockade near the Strait of Hormuz