Trump's Warning Sends Oil Prices Soaring Above $100

Oil prices surged above $100 a barrel after US President Donald Trump's comments on Sunday that 'the Clock is Ticking' for Iran. The remarks came shortly after his visit to China, a country with close ties to Tehran.

Brent crude futures were up about 1.81%, while WTI crude futures were 2.18% higher at the time of writing. USO rose 2%, Exxon Mobil climbed 0.7%, Conoco Phillips gained 0.9%, Chevron was up 0.45%, and Venture Global climbed more than 1%.

The conflict between the US and Iran has continued despite a ceasefire announced in early April. The US blockade of Iranian ports has remained in place, with reports suggesting that Iran considers it an 'act of war.'