Oil prices jump as US and Iran trade attacks over Strait of Hormuz

Oil prices jumped more than 4% on Monday, with Brent crude reaching $79.29 a barrel, as the US and Iran traded attacks over the Strait of Hormuz. US Central Command (CENTCOM) carried out dozens of strikes against Iran to degrade its ability to attack vessels in the strait, following Iran's attack on the container ship MV GFS Galaxy. The US says Iran does not control this vital maritime corridor.