Crude oil prices ended higher on Monday after President Trump stated that Iran ‘will pay’ for the deaths of US military personnel and Yemen's Houthi militia declared a blockade against Saudi Arabian oil exports.
Benchmark crude oil futures for August delivery increased by $0.74 or 0.90% to settle at $83.23 a barrel on the New York Mercantile Exchange. Brent crude for September delivery was up by $1.12 or 1.27% to settle at $89.22 a barrel on the New York Mercantile Exchange.