Oil jumps as Trump claims new Hormuz blockade on Iran

Data: Financial Modeling Prep; Chart: Ben Geman/Axios Oil prices surged about 9% Monday to roughly $83 per barrel after President Trump claimed the U.S. was reinstating a naval blockade on Iran, adding to gains already driven by renewed hostilities over the weekend. Why it matters: Higher oil prices typically feed into higher gasoline prices, potentially pushing the national average back toward $4 per gallon. Context: The average U.S. price was $3.87 per gallon Monday morning, per AAA data, up…