Global oil prices surged past 100 U.S. dollars per barrel again after Donald Trump announced plans to blockade the Strait of Hormuz to pressure Iran into making a deal with the United States.
International news agencies reported that on Sunday, 12 Apr 2026 GMT-4 (U.S. time), global oil prices surged past $100 per barrel again after President Donald Trump stated that the U.S. would blockade “any ship attempting to enter or exit the Strait of Hormuz,” raising concerns over further disruptions to oil transportation.
Brent crude oil, a global benchmark, rose by 8% to about $102 per barrel, while U.S. crude prices also increased by 8%, reaching $104 per barrel.
“We will not allow Iran to make money from selling oil to people they like and not sell to those they dislike, or anything like that. It will have to be all or nothing,” Trump said on Fox News’ Sunday Morning Futures program.
The U.S. Central Command (CENTCOM) announced it would begin the blockade of the Strait of Hormuz following Donald Trump’s orders at 10:00 a.m. U.S. time on Monday (around 9:00 p.m. the same day Thai time).
CENTCOM emphasized that the blockade would be enforced equally on vessels from all countries entering or leaving Iranian ports and coastal areas, including all Iranian ports in the Arabian Gulf and the Gulf of Oman. Ships not traveling to or from Iranian ports will still be allowed to freely transit the Strait of Hormuz.
However, Trump’s plan risks imposing higher costs on Americans. On Sunday, U.S. gas station prices remained high at an average of $4.12 per gallon, up 38% since the war began, despite a slight decline over the weekend.
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Source:cnn