Oil prices jump after Strait of Hormuz setbacks

Data: Financial Modeling Prep; Chart: Ben Geman/AxiosOil prices are up around 6% Sunday evening after the weekend brought fresh escalation of the U.S.-Iran conflict.Why it matters: The jump after international markets opened reverses a large chunk of the sharp decline Friday, when President Trump and Iran's foreign minister claimed the Strait of Hormuz was opening to tanker traffic.The longer oil transit remains throttled, the longer crude prices will remain high.That affects U.S. drivers, becau...