Oil jumps 8% to above $100 ahead of U.S. blockade on Strait of Hormuz
The Hindu·1h ago·Neutral
What Happened
Oil prices jumped above $100 a barrel on April 13, 2026, as the U.S. Navy prepared a blockade of the Strait of Hormuz to restrict Iranian oil shipments. Brent crude futures rose 7.98% to $102.80 per barrel. The blockade follows failed negotiations between the U.S. and Iran regarding the ongoing war.
Key Entities
U.S. NavyStrait of HormuzIranBrent crude futuresApril 13, 2026