Oil Prices Surge Above $100 After Peace Talks Fail and Trump Threatens Blockade
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The Bottom Line
Oil prices surged above $100 per barrel after U.S.-Iran peace talks failed and Trump threatened a blockade.
How This Affects You
The failure of peace talks and blockade threat indicate heightened geopolitical tensions which could increase energy costs for consumers.
AI Summary
Oil prices surged above $100 per barrel as markets reopened following the failure of U.S. peace talks with Iran. The lack of a deal between the United States and Iran contributed to the significant price increase. This market reaction is further intensified by President Trump's threat of a blockade, signaling potential disruptions to global oil supply. The failed negotiations and blockade threat indicate heightened geopolitical tensions impacting energy markets.
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Iran war live: US military says it will block Iranian traffic in Hormuz
Trump orders naval blockade of Strait of Hormuz after failed US-Iran talks
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GlobalTrump says Vance may not attend peace talks in Pakistan over safety concerns
President Trump said Wednesday that Vice President JD Vance may not attend the in-person talks with Iran in Pakistan for security reasons. Trump told the New York Post that he expects the peace talks with Iran to happen in Islamabad “very soon” after a ceasefire deal was agreed to on Tuesday. Trump told the Post…
GlobalOil prices jump back up near $100 a barrel on skepticism over fragile US-Iran ceasefire - AP News
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PoliticsTrump news at a glance: president signals more mass pardons in pipeline; Vance leaves Pakistan after Iran peace talks break down
<p>Trump reported saying he will issue mass pardons at end of term; vice-president says Iran and US at an impasse over nuclear weapons question – key US politics stories from Saturday 11 April at a glance</p><p>After granting unconditional pardons to 1,500 people who participated in the 6 January 2021 US Capitol attack at the start of his presidency, Donald Trump has signalled there could be more to come.</p><p>“I’ll pardon everyone who has come within 200 feet of the Oval [Office],” the president <a href="https://www.theguardian.com/us-news/2026/apr/11/trump-mass-pardons-end-of-presidential-term">reportedly said</a> in a recent meeting, garnering laughs from the room, according to a Wall Street Journal <a href="https://www.wsj.com/politics/policy/trump-promises-mass-pardons-to-staff-before-leaving-office-d7274d32?mod=author_content_page_1_pos_1">report</a> citing an anonymous source.</p> <a href="https://www.theguardian.com/us-news/2026/apr/12/trump-news-at-a-glance-latest-updates-...
FinanceTACO trade: Investors banking on Trump not following through on his threats
The Dow surged more than 1,000 points on Wednesday after President Trump backed off his threat to attack Iran and agreed to a two-week ceasefire. Robert Armstrong, U.S. financial commentator for the Financial Times, previously coined the phrase "TACO trade," with TACO standing for "Trump always chickens out," to encapsulate how investors buy low and sell high as markets react to the president's threats and eventual lack of action. Armstrong joined CBS News to discuss.
PoliticsTrump's shipping waiver does not boost oil flows within US; fuel exports soar - Reuters
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