US to impose blockade on all maritime traffic to and from Iranian ports starting April 13, CENTCOM states that transit to non-Iranian ports will proceed, oil prices surge over 7 percent
“The blockade will be enforced fairly against vessels from all countries entering or departing from Iranian ports and coastal regions, including those on the Arabian Gulf and Gulf of Oman. CENTCOM forces will ensure freedom of navigation for vessels traveling to and from non-Iranian ports through the Strait of Hormuz,” stated CENTCOM via social media.
Further details will be communicated to commercial mariners through an official notice prior to the starting of the blockade, CENTCOM indicated.
Oil prices experienced an increase in early market trading after the announcement of the blockade on Iranian ports starting Monday.
The price of US crude oil jumped 8% to $104.24 per barrel, while Brent crude, the global benchmark, increased by 7% to $102.29.
Brent crude has seen significant fluctuations during the Iran conflict, rising from approximately $70 per barrel before the war commenced in late February to peaks exceeding $119 at times. On Friday, ahead of the peace discussions, Brent for June delivery decreased by 0.8% to $95.20 per barrel.
