Oil surges on US blockade of Iran
Published on April 13, 2026.
On Monday, oil futures rose to over $100 at the open of the day, while the dollar fell and stocks were down due to the collapse of U.S.-Iran talks. The US also announced a blockade of Iranian ports, aimed at increasing pressure on Tehran. Concerns about disruption to fuel and fertiliser supplies also increased. However, most asset prices remained steady.
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