Trump Threat Spurs Oil Prices to $105

Oil prices rose in early Asian trade as President Trump warned of possible strikes on Iran if peace talks fail.
Brent July futures climbed 0.5% to $105.53 per barrel and WTI rose 0.9% to $94.83 per barrel by 00:05 GMT.
Iran launched a Persian Gulf Strait Authority to manage Hormuz traffic, but the strait remains largely closed, limiting supply.
U.S. oil inventories fell sharply as Washington increased exports to offset supply gaps from the Hormuz closure.