Oil jumps 8% to above $100 ahead of U.S. blockade on Strait of Hormuz
Oil prices jumped above $100 a barrel on Monday (April 13, 2026) 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.
Brent crude futures rose $7.60, or 7.98%, to $102.80 a barrel by 2310 GMT after settling 0.75% lower on Friday (April 10, 2026).
U.S. West Texas Intermediate was at $104.88 a barrel, up $8.31, or 8.61%, following a 1.33% loss in the previous session.
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