LBCI

Oil up over 7% to above $100 ahead of US blockade on Iran

World News

13-04-2026 | 02:28

Share

Share

Oil up over 7% to above $100 ahead of US blockade on Iran

Oil prices climbed above $100 a barrel on Monday as the U.S. Navy prepared to block ships to and from Iran via the Strait of Hormuz, a move that could restrict Iranian oil exports, after Washington and Tehran failed to reach a deal to end the war.

Brent crude futures rose $6.96, or 7.3%, to $102.16 a barrel by 0430 GMT after settling 0.75% lower on Friday. U.S. West Texas Intermediate was up $8.12, or 8.4%, at $104.69 a barrel following a 1.33% loss in the previous session.

"The market is now largely back to conditions before the ceasefire, except now the U.S. will block the remaining up to 2 million barrels per day Iranian-linked flows through the Strait of ⁠Hormuz as well," said Saul Kavonic, head of energy research at MST Marquee.

Reuters

World News

Middle East News

Oil

Gas

US

Blockade

Iran

Next

Ukraine, Russia renew drone strikes after Easter truce

US to blockade Iran ports after talks fail to yield a deal

Previous

Recommended For You

Trump tells CBS that US, Iran 'getting a lot closer' to agreement

12:21

Trump tells CBS that US, Iran 'getting a lot closer' to agreement

China authorities lower mine blast death toll to 82: State media

11:45

China authorities lower mine blast death toll to 82: State media

US and Iran report progress on talks ending war, looking to next few days

11:14

US and Iran report progress on talks ending war, looking to next few days

Iran says nuclear issue not part of initial framework with US

11:07

Iran says nuclear issue not part of initial framework with US

Subscribe to our VOD

SUBSCRIBE

Our visitors readings

Iran sends message to Hezbollah chief reaffirming long-term support

09:28

Iran sends message to Hezbollah chief reaffirming long-term support

At least 606 migrants dead or missing in Med since start of 2026: UN

2026-02-23

At least 606 migrants dead or missing in Med since start of 2026: UN

'Nationwide internet blackout' in Iran has lasted 48 hrs: Monitor

Middle East News

2026-01-10

'Nationwide internet blackout' in Iran has lasted 48 hrs: Monitor

Turkey considering deployment of F-16s to Cyprus: Reuters

2026-03-07

Turkey considering deployment of F-16s to Cyprus: Reuters

Videos

Iran uses cluster bombs to target Israel: AiTelly explains what happens when a missile is intercepted—Video

2026-03-25

Iran uses cluster bombs to target Israel: AiTelly explains what happens when a missile is intercepted—Video

At least 19 killed after strike destroys three-story building in Sir el-Gharbiyeh: Video

2026-03-08

At least 19 killed after strike destroys three-story building in Sir el-Gharbiyeh: Video

Israeli airstrike targets Beirut’s southern suburbs: Video

2026-03-06

Israeli airstrike targets Beirut’s southern suburbs: Video

Intense consecutive airstrikes hit Beirut’s southern suburbs: Video

2026-03-05

Intense consecutive airstrikes hit Beirut’s southern suburbs: Video

Israeli army launches evening airstrikes on Beirut’s southern suburbs after evacuation warning

2026-03-05

Israeli army launches evening airstrikes on Beirut’s southern suburbs after evacuation warning

Smoke rises over Beirut’s southern suburbs as Israel targets area: Video

2026-03-02

Smoke rises over Beirut’s southern suburbs as Israel targets area: Video

German President Steinmeier meets Lebanon's President Aoun at Baabda Palace—Video

2026-02-16

German President Steinmeier meets Lebanon's President Aoun at Baabda Palace—Video

Future Movement supporters mark Rafic Hariri anniversary, call for Saad Hariri's return to politics

2026-02-14

Future Movement supporters mark Rafic Hariri anniversary, call for Saad Hariri's return to politics

Israel strikes vehicle in Doueir-Wadi Aaba in South Lebanon—Video

2026-02-01

Israel strikes vehicle in Doueir-Wadi Aaba in South Lebanon—Video

Most read

24 hours

7 days

Month

Iran sends message to Hezbollah chief reaffirming long-term support

1

Iran sends message to Hezbollah chief reaffirming long-term support

Israel warns of imminent strikes on 10 Lebanese villages

2

Israel warns of imminent strikes on 10 Lebanese villages

Lebanon brings ceasefire and battlefield assessment to first direct military talks with Israel—what will be on the table?

3

Lebanon brings ceasefire and battlefield assessment to first direct military talks with Israel—what will be on the table?

Hezbollah drone threat persists as Israel reveals pager operation details

4

Hezbollah drone threat persists as Israel reveals pager operation details

Taiwan security chief says China deployed 'over 100 vessels' in regional waters

5

Taiwan security chief says China deployed 'over 100 vessels' in regional waters

Lebanese soldier wounded in Israeli strike on Nabatieh barracks, army says

6

Lebanese soldier wounded in Israeli strike on Nabatieh barracks, army says

Lebanon says 25 injured in Israeli strikes near Hiram Hospital in Tyre

7

Lebanon says 25 injured in Israeli strikes near Hiram Hospital in Tyre

France bans Israeli security minister Ben Gvir from country

8

France bans Israeli security minister Ben Gvir from country

Download now the LBCI mobile app

To see the latest news, the latest daily programs in Lebanon and the world

Google Play

App Store

Download now the LBCI mobile app

We use
cookies

We use cookies to make
your experience on this
website better.

Accept

Learn More