Oil prices surge above $100 as U.S. Navy to blockade Iran’s ports after peace talks fail | Metals Mine

  • Oil prices surge above $100 as U.S. Navy to blockade Iran’s ports after peace talks fail

    From cnbc.com

    Crude oil prices surged on Sunday, as the U.S. Navy prepares to impose a blockade on Iran’s ports after peace talks failed over the weekend. U.S. crude oil futures for May delivery jumped nearly 8% to $104.20 per barrel by 6:13 p.m. ET. International benchmark Brent for June delivery advanced 7% to $101.86. U.S. Central Command said Sunday the military will blockade all maritime traffic entering and exiting Iranian ports on Monday at 10 a.m. ET. It added that the U.S. will not impede vessels transiting to and from non-Iranian ports. “The blockade will be enforced impartially against vessels of all nations ... (full story)

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OutThere
Apr 12, 2026 9:39pm
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Oil is a commodity and its price depends on supply and demand. I think there is enough supply already. The merchants just need to source the correct supply venues and reroute their vessels. Might take a bit of time but they are smart and know what to do.
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BaliBoyz80
Apr 12, 2026 7:54pm
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Oil price up, Dxy up, and gold up too ?
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Trader#BC19
Apr 12, 2026 6:21pm
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Good, I have filled all tanks on my cars and every gas can I have as soon as JD Vance said negotiation has not been successful.
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S1E19
Apr 12, 2026 6:29pm
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Do you think that will save you? LOL
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Trader#BC19
Apr 12, 2026 7:07pm
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It should be good enough until May, then, I hope Mr. President Trump will find a way to make gas cheaper.
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Trader#600D
Apr 13, 2026 12:27am
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Wait for trump to come up with some BS to manipulate the prices AGAIN
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