Oil prices jump 4% as Rubio says Iran ‘not serious’ about peace talks– www.cnbc.com

Oil prices were about 4% higher on Wednesday morning following the eleventh consecutive round of U.S. strikes against Iran overnight, as Secretary of State Marco Rubio said the Strait of Hormuz remains a sticking point between the two sides.

Brent crude futures, the international benchmark, traded about 4% higher at $94.76. U.S. West Texas Intermediate crude futures were up 3.9% to trade at $87.61.