Oil prices surge above $100 as US Navy to blockade Iran’s ports after peace talks fail
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The Bottom Line
Oil prices surged above $100 after President Trump announced a US Navy blockade of Iran's ports.
How This Affects You
The blockade of Iran's ports could significantly increase fuel costs, with West Texas Intermediate crude already at $104 per barrel.
AI Summary
President Trump announced that the U.S. military will blockade ships attempting to enter the Strait of Hormuz, following the failure of peace talks with Iran. This action has caused oil prices to surge, with futures climbing above $100 per barrel. West Texas Intermediate crude hovered around $104 per barrel, while Brent crude oil prices also rose significantly. The blockade aims to restrict maritime access to Iran's ports, impacting global oil supplies. This development signals a major escalation in tensions between the United States and Iran.
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Trump says US will blockade strait of Hormuz after Iran peace talks fail - The Guardian
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Iran & Middle East Conflict
Tracking the evolving military and diplomatic situation across the Middle East, including US-Iran tensions, Israeli operations, proxy conflicts, and the broader geopolitical implications for the region.
Economy & Markets
Monitoring the US and global economy including inflation, employment, Federal Reserve policy, trade tensions, market volatility, housing affordability, and the financial pressures facing American households.
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Oil back above $100 as US to blockade Iranian ports after peace talks fail - BBC
PoliticsTrump's shipping waiver does not boost oil flows within US; fuel exports soar - Reuters
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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-...
GlobalTribal gas stations offer a reprieve from high prices during Iran war - AP News
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DOGE Cuts Left U.S. Unable to Help Americans Stranded in Iran War Zone
Foreign service officers fired in Elon Musk’s workforce purge warn the State Department is unable to help Americans stranded in the Middle East. The post DOGE Cuts Left U.S. Unable to Help Americans Stranded in Iran War Zone appeared first on The Intercept .
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