U.S. President Donald Trump has said that a U.S. naval blockade against Iran could last months ¡ª leading oil prices to spike to their highest level in more than four years, holding into Thursday.
With diplomacy between Iran and the United States at a standstill after false starts, Trump spoke by phone Wednesday with Russian President Vladimir Putin, who warned him of "damaging consequences" if the United States and Israel resume their war on Iran.
Meeting oil executives, Trump contended that the blockade of Iranian ports ¡ª which Tehran has demanded must end before any deal ¡ª was more effective than bombing.
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