Brent oil tops $105 as tensions simmer in Strait of Hormuz, Israel threatens attacks

brent oil jumped 3% on thursday, closing at $105.07 a barrel. wti settled at $95.85. the spike comes as tensions escalate in the strait of hormuz, with both the u.s. and iran enforcing blockades and demanding ships get permission to cross. iran detained two cargo ships in the strait on wednesday. the u.s. has intercepted several iranian oil tankers since it began enforcing a blockade of iran's ports on april 13. trump claimed the u.s. has "total control" over the sea lane. tanker traffic through the strait remains very low. israel's defense minister said thursday that jerusalem is waiting for u.s. approval to resume the war against iran and "complete the elimination of the khamenei dynasty." israel killed supreme leader ayatollah ali khamenei at the start of the war; his son mojtaba succeeded him. oil prices also rose after an unconfirmed report that iran's top negotiator resigned due to interference from the revolutionary guard.