US Blockade on Iranian Ports: Surge in Crude Oil Prices, Fears of Impact on Global Trade

April 13, 2026

Following the United States’ announcement on Monday regarding a blockade of Iranian ports, global crude oil prices have witnessed a sharp surge. In early trading on Sunday, the price of U.S. crude oil rose by eight percent, reaching $104.24 per barrel. Meanwhile, the price of the international benchmark, Brent crude oil, climbed seven percent to $102.29 per barrel.

This announcement comes at a time when Brent crude prices have already experienced significant volatility due to the conflict in West Asia.

Rising from approximately $70 per barrel before the outbreak of hostilities in late February, prices had at times surged above $119 per barrel. Prior to peace talks, Brent crude for June delivery had fallen 0.8 percent on Friday, settling at $95.20 per barrel.

Control over Hormuz and the Impact of the Blockade
Iran has long maintained effective control over the Strait of Hormuz—a vital waterway for global oil shipping. According to the U.S. Central Command, this blockade will be enforced impartially against vessels of all nations entering or departing from Iranian ports and coastal areas. However, it will permit transit for vessels traveling between non-Iranian ports.

It is noteworthy that approximately one-fifth of the world’s traded oil passes through the Strait of Hormuz every day. Major oil-exporting nations such as Saudi Arabia, Iraq, the United Arab Emirates, Kuwait, and Iran rely on this route.

Impact on Commercial Shipping Traffic
Even in the days following the ceasefire, vessel movement within the Strait of Hormuz has remained limited. According to marine tracking data, more than 40 commercial vessels have transited through this route since the commencement of the ceasefire. Following the announcement of the US blockade, the number of ships passing through this region is feared to be further impacted.