Oil prices surge to near six-month highs as Trump warns of 'decision time' on Iran
Strait of Hormuz shipments are back near pre-war levels, but soaring transport costs and the risk of renewed strikes are pushing prices higher
Oil prices have surged to near six-month highs even as shipments through the Strait of Hormuz recover to close to pre-war levels, with traders pricing in the risk that US President Donald Trump will resume attacks on Iran with midterm elections just over a week away.