Oil prices rise after Trump issues ultimatum and Iran threatens to close the Strait of Hormuz indefinitely

By Auzinea Bacon, CNN (CNN) — Oil prices rose Sunday after Iran threatened to shut down the Strait of Hormuz indefinitely in response to President Donald Trump’s ultimatum on the restoration of oil traffic through the critical waterway. Brent crude, the global benchmark, climbed 1.69% to about $114.09 a barrel at the open. US crude