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The failure of negotiations at the weekend has raised concerns that the global energy crisis will deepen.
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UK minesweepers and anti-drone capabilities will continue operating in the region, as pressure ramps up to reopen the key shipping route.
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The failed peace talks left investors on edge with little visibility on how the blockade will be implemented, and how long and deep an oil shock needs to be priced in.
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The goal of the naval operation ordered by ordered by President Trump is to deny Iran the revenues it needs to fund its military, but there are many unknowns.
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The price of oil surged Sunday night after President Donald Trump said the U.S. would blockade the Strait of Hormuz following the failure of peace talks with Iran.U.S.
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The blockade could derail a tenuous ceasefire after just five days. Vice President JD Vance said the U.S. remains open to diplomacy if Iran takes "our final and best offer."
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Starmer ruling out the UK's role in the US blockade of Iran's ports and Hungary electing a new leader lead Monday's papers.
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