Oil Prices Surge as U.S. Begins Blockade of Iran's Ports

Monday, April 13, 2026

The price of oil surged Sunday night after President Donald Trump said the U.S. would blockade the Strait of Hormuz after peace talks with Iran failed.

Posted by reinheitsgebot at 08:33 PM | 7 COMMENTS | permalink | Comment on This Entry |

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Blocking the Strait of Hormuz to unblock the Strait of Hormuz is peak Trump foreign policy.

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-- Eliot Higgins (@eliothiggins.bsky.social) Apr 12, 2026 at 9:11 AM

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U.S. crude oil soared 8%, to more than $104 per barrel. International Brent oil jumped more than 7%, to $103 per barrel. Wholesale gas prices also spiked 6%, while heating oil, a proxy for jet fuel prices, jumped 10% in early trading.

media.tenor.com

#1 | Posted by reinheitsgebot at 2026-04-12 08:30 PM | Reply

Wall Street futures are in the red too.

I told a financial advisor who was trying to lure my wife and I as clients that I was staying out of the market right now because Trump is so unpredictable and unhinged. I was right to do so.

#2 | Posted by AMERICANUNITY at 2026-04-13 12:11 AM | Reply | Newsworthy 1

Republicans can't hang their head in shame because they don't have any.

#3 | Posted by snoofy at 2026-04-13 12:34 AM | Reply

But, hey we have the UFC.

Reminder: FIFA kicks off soon.

Who's coming?

#4 | Posted by C0RI0LANUS at 2026-04-13 08:19 AM | Reply

Obligatory.

uploads.disquscdn.com

#5 | Posted by reinheitsgebot at 2026-04-13 10:04 PM | Reply

The longer term issue to keep in mind is not the price of gas, but the price of diesel fuel.

The diesel fuel that is used to transport goods across the Country every hour of every day.

Why Diesel Prices Spike Faster Than Gasoline In A Crisis
www.forbes.com

... When a geopolitical shock hits energy markets, the same pattern plays out: diesel prices spike fast, while gasoline lags behind.

According to data from the Energy Information Administration, since the conflict in Iran began through 4/6/26, the national average price of gasoline has risen by $1.11 per gallon.

Meanwhile, diesel prices are up $1.75 per gallon. That divergence is important, because diesel underpins freight and logistics, amplifying inflationary pressures across the broader economy. ...

#6 | Posted by LampLighter at 2026-04-13 10:56 PM | Reply

Diesel fuel too expensive?

Isn't it something that Trump hasn't addressed this issue...

#7 | Posted by snoofy at 2026-04-13 11:08 PM | Reply