Oil prices have risen after President Donald Trump gave Iran until Tuesday to open the Strait of Hormuz, a critical chokepoint for global energy supply. U.S. crude oil prices rose by 2.35% to $114.16 per barrel, while international benchmark Brent prices advanced by 1.72%. The closure of the Strait has led to the largest oil supply disruption in history. Nearly 1 billion barrels of oil and products will be lost by the end of the month, according to TD Securities. The eight members of OPEC+ have agreed to increase production by 206,000 barrels per day in May, but it is unclear how this will reach the global market with the Strait still closed.