Oil prices breach $105/barrel as Trump says US won't de-escalate Iran war

Crude oil prices surged past $105/barrel on Thursday as US President Donald Trump said US won't de-escalate the ongoing Iran war till all objectives are achieved. Brent crude rose over $4.2 to hit $105.24/barrel while the US-focused WTI crude surged nearly $3, or 2.93%, to cross $103/barrel. Trump also said US won't import oil passing through the Strait of Hormuz.