Oil jumps 8% to above $100 ahead of US blockade on Strait of HormuzA vessel at the Strait of Hormuz, off the coast of Oman’s Musandam province, April 12, 2026. REUTERSSINGAPORE: Oil prices jumped above $100 a ‌barrel on Monday as the U.S. Navy prepared a blockade of the Strait of Hormuz that could restrict Iranian oil shipments after the U.S. and Iran failed to reach a deal to end the war. Despite the stalemate, three supertankers fully laden with oil passed through the Strait ⁠of Hormuz on Saturday, shipping data showed. They appeared to be the first vessels ​to exit the Gulf since the ceasefire deal was struck last week. No other ships were spotted in the strait on Monday except for one Iran-flagged vessel anchored there, shipping data on LSEG showed.

Source: Bangkok Post April 13, 2026 02:12 UTC