Oil Prices Rise as Iran Threatens to Close Bab al-Mandeb Strait as Trump Deadline Nears

Oil prices have again climbed today, with Iran threatening to close the Bab al-Mandeb Strait if Trump escalates tensions in the Middle East once the 8 P.M. deadline elapses. Iran has also reportedly cut off communications with the U.S. as tensions continue to build ahead of the deadline today.