Former President Trump declared the U.S. intends to blockade the Strait of Hormuz following failed negotiations. This geopolitical tension has caused global oil prices to surge. Separately, Hungarian politician Viktor Orbán lost his reelection bid.

President Trump says U.S. will blockade the Strait of Hormuz, failed U.S.-Iran negotiations cause oil prices to surge, Hungary's Viktor Orbán loses reelection bid. <p>President Trump says U.S. will blockade the Strait of Hormuz, failed U.S.-Iran negotiations cause oil prices to surge, Hungary's Viktor Orbán loses reelection bid.</p><img src="https://media.npr.org/include/images/tracking/npr-rss-pixel.png?story=nx-s1-5780733" />