News Capsule: US Begins Blockade of Iranian Ports, Turmoil Rises in Oil Market
13-Apr-2026 09:29 AM
News Capsule: US Begins Blockade of Iranian Ports, Turmoil Rises in Oil Market
★ The United States will begin a naval blockade of all Iranian ports from today, though ships traveling between non-Iranian ports will still be allowed to pass through the Strait of Hormuz.
★ The move comes after 21 hours of US-Iran talks in Pakistan ended without any agreement.
★ This decision has intensified volatility in global oil markets, with Brent crude expected to surge sharply.
★ The blockade could disrupt around 2 million barrels of oil supply per day, potentially pushing crude prices up by $5–10 per barrel.
★ Shipping movement through the Strait of Hormuz has also temporarily slowed, raising concerns over global energy supply and higher freight costs.