US to Block Maritime Traffic at Iranian Ports Starting April 13, Oil Prices Surge

Deep News
04/13

On April 12 local time, the US Central Command issued a statement announcing that, in accordance with a presidential proclamation, its forces will begin blocking all maritime traffic entering and exiting Iranian ports starting at 10:00 AM Eastern Time on April 13. The statement indicated that the blockade will apply equally to vessels from all nations traveling to and from Iranian ports and coastal areas, including all Iranian ports located in the Arabian Gulf and the Gulf of Oman. The US Central Command also clarified that it will not impede the passage of ships transiting the Strait of Hormuz to and from non-Iranian ports. Prior to the start of the blockade, additional information will be provided to commercial mariners through official notifications.

On April 13, WTI crude oil futures opened sharply higher, surging by 8%. As of 06:14, WTI crude was up 8.6%, while Brent crude futures rose by 7.26%.

By 06:52, the gain in WTI crude oil futures had expanded to 9%, reaching $105.437 per barrel.

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