{"id":107175,"date":"2026-04-13T06:30:24","date_gmt":"2026-04-13T06:30:24","guid":{"rendered":"https:\/\/pakistaninewspaperlist.com\/news\/oil-prices-jump-over-8-after-failed-u-s-iran-talks-and-blockade-threat\/"},"modified":"2026-04-13T06:30:24","modified_gmt":"2026-04-13T06:30:24","slug":"oil-prices-jump-over-8-after-failed-u-s-iran-talks-and-blockade-threat","status":"publish","type":"post","link":"https:\/\/pakistaninewspaperlist.com\/news\/oil-prices-jump-over-8-after-failed-u-s-iran-talks-and-blockade-threat\/","title":{"rendered":"Oil prices jump over 8% after failed U.S.\u2013Iran talks and blockade threat"},"content":{"rendered":"
\n

The failure of negotiations at the weekend has raised concerns that the global energy crisis will deepen.<\/h4>\n<\/p><\/div>\n
\n

Crude oil prices jumped sharply on Monday, rising more than 8% above $100 per barrel after US\u2013Iran peace talks failed to produce any progress and US President Donald Trump<\/a> announced plans for a naval blockade of Iranian ports.<\/strong><\/p>\n

At the start of trading, West Texas Intermediate (WTI) for May delivery climbed about 8% to $104.50 per barrel, while Brent crude for June delivery increased 7% to $102.<\/p>\n

In Asian markets, South Korea\u2019s Kospi index initially dropped 2% before recovering slightly, while Japan\u2019s Nikkei fell 0.3%.<\/p>\n

Oil prices had declined and stocks rallied the previous week after Trump agreed to a two-week ceasefire mediated by Pakistan. However, the situation remained fragile as Israel continued strikes in Lebanon and the Strait of Hormuz<\/a> stayed effectively shut.<\/p>\n

The US dollar strengthened broadly in early Asian trading, reaching its highest level in a week. The dollar index, which tracks the currency against six major peers, rose up to 0.5% to 99.187, its highest since April 7.<\/p>\n

Meanwhile, the euro slipped 0.5% to $1.1667, the British pound fell 0.6% to $1.3383, the Australian dollar dropped 0.8% to $0.7014, and the New Zealand dollar declined 0.7% to $0.5798.<\/p>\n

Trump stated on Sunday that the US Navy would begin blockading the Strait of Hormuz<\/a> after extended negotiations with Iran failed to end the conflict, putting the already fragile ceasefire at risk.<\/p>\n

US Central Command confirmed that the blockade of all maritime traffic entering and leaving Iranian ports would begin at 10am ET (7pm Pakistan time) on Monday.<\/p>\n

Analysts at Westpac noted that early and thin foreign exchange trading reflected a risk-off sentiment, with the US dollar gaining broadly in response.<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

The failure of negotiations at the weekend has raised concerns that the global energy crisis will deepen. Crude oil prices jumped sharply on Monday, rising more than 8% above $100 per barrel after US\u2013Iran peace talks failed to produce any progress and US President Donald Trump announced plans for a naval blockade of Iranian ports. 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