Global Oil Prices Surge 8% Above $100, Impact of Trump's Strait of Hormuz Blockade Plan
SINGAPORE, KOMPAS.com - Global crude oil prices surged sharply during Asian trading on Monday (13/4/2026). The increase followed the United States’ plan to blockade the Strait of Hormuz.
Brent crude prices rose by $7.60, or 7.98 per cent, to $102.80 per barrel at 06.10 WIB. At the end of trading the previous Friday, Brent had fallen 0.75 per cent.
West Texas Intermediate (WTI) oil prices also surged. WTI stood at $104.88 per barrel, up $8.31 or 8.61 per cent. In the previous session, WTI had weakened by 1.33 per cent.
The price spike was triggered by the US Navy’s plan to restrict access in the Strait of Hormuz. This move could halt Iranian oil shipments following the failure of negotiations between the two countries to reach an agreement.
“The market is now essentially back to pre-ceasefire conditions, with the US now set to block up to 2 million barrels per day of Iran-related oil flows through the Strait of Hormuz,” said Saul Kavonic, head of energy research at MST Marquee.
Trump also acknowledged that oil and petrol prices could remain high until the midterm elections in November.
The US Central Command stated that the blockade would take effect at 10.00 local time, or 21.00 WIB on Monday. All ship traffic to and from Iranian ports will be affected.
ANZ analysts Brian Martin and Daniel Hynes assessed that this step would pressure global supply.
“This action will not only hold back exports from Gulf oil producers but will also limit Iran’s ability to export oil and exacerbate the supply disruptions currently facing the market,” they wrote.
IG analyst Tony Sycamore assessed that the blockade would halt Iranian oil flows. This situation would also pressure buyer countries to push for reopening the route.
Tensions escalated after Iran’s Revolutionary Guard issued a stern warning. Any military vessel approaching the Strait of Hormuz would be considered a violation of the ceasefire.
Ship movements on Monday appeared limited. LSEG data recorded only one Iranian-flagged vessel docking in the area.
Saudi Arabia stated that it has restored pipeline capacity through the East-West pipeline to around 7 million barrels per day. The restoration was carried out a few days after assessing the impact of attacks on the energy sector during the conflict.