Crude jumps 8% on ceasefire collapse, marketers mull hike

• OPEC cuts output by 500,000 bpd By Adewale Sanyaolu Oil prices surged above $100 a barrel on Monday, as ceasefire talks between the U.S. and Iran deadlocked, prompting immediate threats of a U.S. naval blockade on Iranian ports and the Strait of Hormuz. The oil market had witnessed relief last week when

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