Oil prices jump amid renewed tensions over the Strait of Hormuz

The price of oil jumped and stocks fell slightly Monday as traders digested renewed tensions between the U.S. and Iran over the critical Strait of Hormuz.U.S.

The price of oil jumped and stocks fell slightly Monday as traders digested renewed tensions between the U.S. and Iran over the critical Strait of Hormuz.

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U.S. crude oil jumped more than 4%, to about $85 per barrel, and international Brent crude oil rose 3%, to around $93 per barrel.

In early trading, the S&P 500 fell slightly by about 0.3%, the Nasdaq Composite fell 0.5%, and the Dow Jones Industrial Average traded flat. The Russell 2000 index fell 0.2%.