Brent crude jumps 4%, as US strikes in Iran set back hopes for Hormuz re-opening

NEW YORK, May 26 (Reuters) – Brent crude futures climbed about 4% on Tuesday after the U.S. military carried out strikes in Iran, a setback to hopes over the weekend that the United States and Iran would reach an agreement to end the three-month war that would also re-open shipping through the crucial Strait of Hormuz. U.S. futures were down, however, catching up to Monday’s selloff in Brent, when U.S. markets were closed. Global benchmark Brent rose $3.44, or 3.6%, to settle at $99.58 a barrel, while U.S. West Texas Intermediate (WTI) crude fell $2.71, or 2.8%, to settle at…