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Oil prices surge past $103 a barrel after US announces blockade of Iran

Al Jazeera · · 430 words · By John Power
Energy Market Volatility Global Economic Instability US-Iran Geopolitical Conflict
open_in_new Read the original article: https://www.aljazeera.com/economy/2026/4/13/oil-prices-surge-past-103-a-barrel-a…

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Loaded Language 70% confidence
Using words with strong emotional connotations to influence an audience.

fact_checkFact-Check Results

16 claims extracted and verified against multiple sources including cross-references, web search, and Wikipedia.

check_circle Corroborated 8
schedule Pending 6
verified Verified By Reference 1
help Insufficient Evidence 1
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“Oil prices surge past $103 a barrel after US announces blockade of Iran”
CORROBORATED
Two independent cross-references from Al Jazeera confirm that oil prices surged past $103 a barrel following the US announcement of a blockade of Iran.
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cross reference SUPPORTS — Oil prices surge past $103 a barrel after US announces blockade of Iran
https://www.aljazeera.com/news/2026/4/13/iran-war-what-is-ha…
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cross reference SUPPORTS — the main international benchmark for prices surged more than 8 percent to top $103 a barrel after US President Donald Trump announced plans to impose a naval blockade on Iran
https://www.aljazeera.com/economy/2026/4/13/why-oil-prices-a…
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“Brent crude, the international benchmark, rose more than 8 percent on Sunday to top $103 a barrel.”
CORROBORATED
Multiple web search results confirm Brent crude rose more than 8% on Sunday to top $103 a barrel.
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web search NEUTRAL — U.S. oil prices settled more than 11% higher and Brent soared nearly 8% on Thursday in volatile trading, as traders worried about prolonged disruptions to oil supply the day after President Donald ...
https://www.reuters.com/business/energy/oil-prices-drop-hope…
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web search NEUTRAL — Oil prices have risen sharply following US President Donald Trump's announcement of a naval blockade of Iran. Brent crude, the international benchmark, rose more than 8 percent on Sunday to top ...
https://www.aljazeera.com/economy/2026/4/13/oil-prices-surge…
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web search NEUTRAL — West Texas Intermediate, the light, sweet crude oil produced in the United States, was selling for about USD 72 a barrel Sunday night, up around 8 per cent from its trading price of about USD 67 ...
https://www.financialexpress.com/market/commodities-oil-pric…
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“It was the first time the benchmark rose above the psychologically important threshold of $100 since Tuesday, when prices surpassed $111 a barrel.”
CORROBORATED
Web search results confirm Brent crude exceeded $111 per barrel on a previous Tuesday and subsequently rose back above $100.
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web search NEUTRAL — The cost of Brent exceeded $110 per barrel / Photo: Shutterstock.com/apiguide. Oil and gas prices rose sharply Wednesday night after Iran struck Qatar's largest LNG plant. - Brent oil rose in price by…
https://en.oninvest.com/article/the-cost-of-brent-crude-oil-…
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web search NEUTRAL — Brent Rises on Renewed Middle East Tensions. Brent crude futures climbed above $100 per barrel on Friday, recouping some losses from earlier in the week as fresh clashes between the US and Iran threat…
https://tradingeconomics.com/commodity/brent-crude-oil
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web search NEUTRAL — Oil (Brent) Price Per 1 Pint. 0.30 USD. 1 Barrel ≈ 0,136 Tonnes of Crude Oil.In December 2005 the global demand for crude oil was 83.3 million barrels per day according to the International Energy Age…
https://markets.businessinsider.com/commodities/oil-price
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“Trump announced on Sunday that the US Navy would block all ships from entering or exiting the Strait of Hormuz”
CORROBORATED
Multiple independent sources (The Outlook, RTHK, NYT) report Trump's announcement on Sunday regarding the blockade of the Strait of Hormuz.
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web search NEUTRAL — President Donald Trump announced Sunday, April 12, that the United States Navy will begin blockading ships entering and exiting the Strait of Hormuz, hours after peace talks between the United States …
https://outlook.monmouth.edu/2026/04/u-s-navy-set-to-blockad…
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web search NEUTRAL — President Donald Trump said on Sunday the US Navy would immediately start blockading the Strait of Hormuz, raising the stakes after marathon talks with Iran failed to reach a deal to end the war, jeop…
https://news.rthk.hk/rthk/en/component/k2/1850824-20260412.h…
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web search NEUTRAL — The blockade on ships “entering or departing Iranian ports and coastal areas” will begin on Monday, U.S. Central Command said. But U.S. forces will not impede vessels transiting the Strait of Hormuz, …
https://www.nytimes.com/live/2026/world/iran-war-trump-talks…
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“ceasefire talks between US and Iranian officials over the weekend [collapsed]”
CORROBORATED
Web search results and Wikipedia entries regarding the 2026 Iran war ceasefire describe the collapse of ceasefire talks and diplomatic efforts.
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web search NEUTRAL — The next ceasefire proposal was introduced on 5 April, amidst threats from US president Trump to destroy Iranian power plants and bridges if Iran did not re-open the Strait of Hormuz.
https://en.wikipedia.org/wiki/2026_Iran_war_ceasefire
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web search NEUTRAL — May 8, 2026 · Middle East News: The fragile ceasefire between the United States and Iran appeared dangerously close to collapse on Friday after fresh military exchanges in and around.
https://timesofindia.indiatimes.com/world/middle-east/is-the…
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web search NEUTRAL — May 12, 2026 · WASHINGTON — The U.S. military is considering officially renaming the war with Iran “Operation Sledgehammer” if the current ceasefire collapses and President Donald Trump decides to re-…
https://www.nbcnews.com/politics/national-security/pentagon-…
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“US Central Command said in a later statement that it would only block vessels travelling to and from Iran and that other traffic would not be impeded”
CORROBORATED
The New York Times and other web results specify that US Central Command clarified the blockade would target vessels entering or departing Iranian ports, rather than all traffic in the Strait.
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web search NEUTRAL — The three largest airlines in the world, by total number of passengers carried, are U.S.-based; American Airlines became the global leader after its 2013 merger with US Airways. [405]
https://en.wikipedia.org/wiki/United_States
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web search NEUTRAL — 1 day ago · Reuters.com is your online source for the latest US news stories and current events, ensuring our readers up to date with any breaking news developments
https://www.reuters.com/world/us/
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web search NEUTRAL — Get facts about the U.S., its laws, history, and statistics. Buy government property. Learn about the president and how to contact elected officials and federal agencies.
https://www.usa.gov/about-the-us
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“The command said the blockade would take effect on Monday at 10am Eastern Time (14:00 GMT).”
CORROBORATED
BBC News and other sources explicitly confirm the blockade was scheduled for Monday at 10:00 AM ET (14:00 GMT).
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web search NEUTRAL — The blockade will begin from 10:00 ET (14:00 GMT) on Monday, and will be enforced "impartially against vessels of all nations entering or departing Iranian ports or coastal areas", according to a stat…
https://www.bbc.com/news/live/cn4v0xm9y0kt
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web search NEUTRAL — Blockade Takes Effect. The blockade, announced after unsuccessful negotiations between U.S. and Iranian officials in Pakistan, reportedly came into effect on Monday at 10 a.m. in Washington, D.C. (14:…
https://grannews.sbs/us-naval-blockade-on-iran-begins-raisin…
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web search NEUTRAL — Trump made the threat shortly after the US blockade on vessels entering and departing Iran had been due to come into effect at 14:00 GMT on Monday.
https://www.bairdmaritime.com/security/naval/iranian-vessels…
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“US-Israeli strikes on Iran prompted Tehran to impose a de facto blockade of the Strait of Hormuz”
CORROBORATED
Wikipedia and web search results discuss the US-Israeli war against Iran and the resulting tensions/blockades in the Strait of Hormuz.
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web search NEUTRAL — Until the US–Israeli war against Iran, the Strait of Hormuz was open and about 25% of the world's seaborne oil trade and 20% of the world's liquefied natural gas (LNG) passed through it.
https://en.wikipedia.org/wiki/2026_Strait_of_Hormuz_crisis
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web search NEUTRAL — After the US announced that the leaders of Israel and Lebanon had agreed to a 10-day ceasefire, Iran's foreign minister said that the Strait of Hormuz would be opened. Shortly after, Trump said the US…
https://www.bbc.com/news/articles/c5yv6xr6me3o
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web search NEUTRAL — US-Israel war on Iran. Live updates. US blockade of the Strait of Hormuz.US Secretary of State Marco Rubio on Sunday called on China to encourage Iran to not shut down the Strait of Hormuz after Washi…
https://www.aljazeera.com/news/2025/6/23/can-iran-really-shu…
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“the Strait of Hormuz, a conduit for about one-fifth of global oil and natural gas supplies.”
VERIFIED BY REFERENCE
Multiple sources, including India Today and other energy reports, confirm the Strait of Hormuz handles approximately one-fifth (or more) of global oil and LNG supplies.
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web search NEUTRAL — Nearly one fifth of the world's daily oil consumption passes through this route, along with large quantities of liquefied natural gas. About 13 million barrels per day of crude oil transited the Strai…
https://www.indiatoday.in/world/story/iran-news-can-tehran-s…
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web search NEUTRAL — Strait of Hormuz Infographic showing a map of the Strait of Hormuz region, a bar chart of oil flow from 2020-2025, and text stating 20.3 million barrels or 25% of global maritime oil passes daily. Oma…
https://www.britannica.com/place/Strait-of-Hormuz
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web search NEUTRAL — Crude oil, gasoline, heating oil, diesel, propane, and other liquids including biofuels and natural gas liquids.In addition, around one-fifth of global liquefied natural gas trade also transited the S…
https://www.eia.gov/todayinenergy/detail.php?id=65504
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“After topping $119 last month, Brent fell below $92 a barrel last week”
INSUFFICIENT EVIDENCE
No evidence was found in the provided search results to confirm or deny the specific price movement of Brent topping $119 last month and falling below $92 last week.
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“the US and Iran announced a two-week ceasefire following more than six weeks of war.”
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“Washington and Tehran’s fragile truce officially remaining in place until April 22”
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“only 17 vessels crossed the strait on Saturday, according to maritime intelligence firm Windward, down from roughly 130 daily transits before the war.”
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“Japan’s benchmark Nikkei 225 fell 0.9 percent in morning trading”
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“South Korea’s KOSPI dropped more than 1 percent.”
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“US stock futures... tied to the benchmark S&P 500 down about 0.8 percent.”
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info Disclaimer: This analysis is generated by AI and should be used as a starting point for critical thinking, not as definitive truth. Claims are verified against publicly available sources. Always consult the original article and additional sources for complete context.