Oil prices jump 5 percent after U.S. revokes Iran oil sanctions waiver

Oil prices on Tuesday jumped over 5 percent after the U.S. revoked its waiver on Iranian oil sanctions following strikes on three commercial vessels near the Strait of Hormuz.

International Brent crude oil jumped nearly 5.5 percent to more than $75 per barrel as of Tuesday evening.

A U.S. official previously told The Hill that the memorandum of...