Oil prices keep rising as Trump seeks coalition to reopen Strait of Hormuz
Brent crude, the most important benchmark for global prices, rose as much as 3 percent on Sunday to top $106 a barrel, before easing somewhat early on Monday. 15 a barrel as of 02:00 GMT, up 1 percent. The latest rise came after US President Donald Trump called on other countries to help Washington reopen the Strait, which usually transports about one-fifth of the global oil supply. Global oil prices have risen more than 40 percent since the start of the war, pushing up fuel prices and heightening fears of a slowdown in the global economy. According to the United Kingdom Maritime Trade Operations (UKMTO) centre, no more than five ships have passed through the strait each day since the start of the war, compared with a historical average of 138 daily transits. At least 16 commercial vessels have been attacked in the region since the war began on February 28, according to the UKMTO.