Oil soars again after latest U.S. Iran strikes, looming blockade

The price of crude oil surged again with benchmark Brent rising for a second straight day to more than $87 per barrel, and U.S. crude blowing past $80.

The price of crude oil on global markets continued to surge Tuesday, with international oil benchmark Brent rising for a second straight day to more than $87 per barrel, the first time since June it has traded at that price.

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U.S. crude oil also moved higher, rising 4% from Monday to more than $81 per barrel.

Since the start of trading on Sunday night, Brent oil has risen more than 15% and U.S. crude oil has risen more than 12%.