Oil prices surge as Strait of Hormuz tanker disruptions rattle global supply

FRANKFURT, Germany (AP) — Oil prices rose sharply Monday as disruptions to tanker traffic through the Strait of Hormuz chokepoint raised uncertainty about how U.S. and Israeli attacks on Iran would affect supply to the world economy. U.S. oil traded 8.40% higher at $72.63 per barrel, while international standard Brent was up 8.5% at $79.13 per barrel. Higher oil prices raise the prospect of costlier gasoline for U.S. drivers as well as increased prices for other goods at a time when people in many count ...