WTI Jumps Roughly 8% Toward $100 as US Blockades Strait of Hormuz

FXStreetApr 13, 2026 12:29 AM

West Texas Intermediate (WTI) – the US oil benchmark – has opened the week with a bullish gap, climbing roughly 8%, looking to retarget the $100 threshold.

Following a down week, the latest surge is mainly driven by the re-escalation of the conflict between the United States (US) and Iran.

The 21-hour-long peace talks over the weekend failed and prompted US President Donald Trump to pledge to blockading Iranian ports and the maritime traffic via the Strait of Hormuz.

The US Central Command (CENTCOM) announced that the “Forces will start blockade of all maritime traffic entering and exiting Iranian ports on Monday, 10 AM ET” (14:00 GMT).

Meanwhile, the latest Wall Street Journal Report (WSJ) report stated that President Trump and his advisers are weighing restarting limited military strikes in Iran in addition to the US blockade of the Strait of Hormuz as a way to break a standoff in peace talks.

Looking ahead, the focus remains on further details of the US blockades to the Strait and its implications on the already fragile US-Iran ceasefire.

Disclaimer: The information provided on this website is for educational and informational purposes only and should not be considered financial or investment advice.

Recommended Articles

Trump Blockade of Strait of Hormuz Drives Oil Price Surge, Will This Be Another TACO?

TradingKey - On Sunday (April 13), Donald Trump announced that following the breakdown of U.S.-Iran negotiations, the U.S. Navy will implement a naval blockade on Iranian ports starting Monday.

Up 20% in Five Days, Over 50% This Year: Why Was Marvell Technology Tapped by Nvidia?

TradingKey - Since April 2026, Marvell Technology (MRVL) has demonstrated sustained stock price strength. On April 10, the shares closed at $128.49, up 7.14% for the day. The stock has seen a cumulative gain of nearly 20% over the past five trading days, with an overall increase of 29.72% in April.

Musk’s XChat Is Coming to App Store, Meta, Apple and Finance World Are Trembling

Elon Musk’s XChat, the Western equivalent of WeChat, is set to launch on the App Store, issuing a direct challenge to giants such as Meta, Apple, and PayPal.

Microsoft Launches Its Own AI Models and Ditches OpenAI Dependence - Is MSFT Stock a Buy at $370?

Microsoft at $370 is a 17%-revenue-growth, 47%-margin, $625-billion-backlog business trading at a multi-year low valuation, because the market is scared of macro noise. The AI model releases this week prove the moat is deepening, not narrowing.

Anthropic IPO 2026: What the Claude Mythos Release Delay Means for Investors and Stock Valuation

Anthropic has delayed the launch of its new AI model, Claude Mythos, projecting a responsible image but potentially weighing on its IPO process.

Featured Tools