finance
Oil tops $100 after US-Iran talks fail
Brent and WTI surged 8 to 9 percent after US-Iran talks collapsed and the US announced a blockade of Iranian ports, heightening fears of wider disruption to shipments through the Strait of Hormuz.
Apr 13th 2026 · Iran
Insights
- Brent rose 8.5% to $102.37 and WTI rose 9% to $105.34 as markets reopened in Asia amid supply risk concerns.
- Negotiations between the US and Iran ended without a new deal, reversing a recent conditional two-week ceasefire that briefly eased prices.
- President Trump and US Central Command announced a blockade of ships entering or leaving Iranian ports to begin at 10:00 ET on Monday, to be enforced impartially, and said ships to and from non-Iranian ports would not be impeded in the Strait of Hormuz.
- Iran said it will not submit to threats and the IRGC warned military vessels approaching the strait will be treated as violating the ceasefire and dealt with severely, while the Strait of Hormuz carries about a fifth of global energy shipments.
Sources
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