Brent jumps 4% to $106 after Trump orders US Navy to target Iranian boats laying mines in Strait of Hormuz

Brent crude rose 4% to $106 after President Donald Trump instructed the US Navy to destroy any Iranian boats found laying mines in the Strait of Hormuz. The chokepoint handles about 20% of global seaborne oil flows and has been largely blocked since the US-Israeli air war against Iran began on February 28. Brent began 2026 at $61 and has nearly doubled as the crisis has intensified. Analysts say an extended closure could drive prices sharply higher.