India
oi-Prakash KL
Crude Oil Price Today: The fragile peace that the world had hoped for evaporated over the weekend as diplomatic efforts between Washington and Tehran collapsed. By Monday morning, the global energy market felt the shockwaves, with oil prices aggressively breaching the $100 threshold.
The catalyst for this surge was a definitive announcement from the White House: the U.S. Navy is preparing a maritime blockade of the Strait of Hormuz. This move aims to stifle Iranian exports entirely, targeting up to 2 million barrels per day that had previously been flowing through the vital waterway.
Diplomatic efforts between Washington and Tehran collapsed, leading the U.S. Navy to enforce a Strait of Hormuz blockade starting Monday, impacting Iranian oil exports and causing crude prices to surge past $100. Tehran responded defiantly, as Saudi Arabia worked to mitigate market impact.
Crude Oil Price Today
Energy analysts have noted that the market has effectively reverted to pre-ceasefire volatility. In the early hours of Monday:
- Brent Crude futures surged by over 7%, climbing to $102.26.
- West Texas Intermediate (WTI) saw an even steeper rise, jumping nearly 8% to trade at $104.91.
President Trump acknowledged the domestic pressure this might cause, noting that petrol prices could remain elevated through the upcoming midterm elections-a significant admission of the political risk involved in the decision to escalate military pressure.
The Blockade Begins
U.S. Central Command (CENTCOM) confirmed that the blockade would be enforced from 14:00 GMT on Monday. While the U.S. maintained that freedom of navigation for non-Iranian ports would be respected, the mere presence of a blockade has sent the shipping industry into a tailspin. Data indicates that most commercial tankers are now steering clear of the Strait to avoid being caught in the crossfire.
Tehran has responded with characteristic defiance. The Revolutionary Guards warned that any attempt to enforce the blockade would be met with a “harsh and decisive” response. Meanwhile, Saudi Arabia has moved to mitigate some global anxiety by restoring its East-West pipeline to its full capacity of 7 million barrels per day, providing a potential, if partial, alternative to the bottlenecked Strait.
Global Oil Price On Monday, April 13
| Commodity | Price (USD) | Change | % Change |
|---|---|---|---|
| WTI Crude | 104.91 | +8.34 | +8.64% |
| Brent Crude | 102.26 | +7.06 | +7.42% |
| Mars | 123.74 | +3.91 | +3.26% |
| Urals | 121.78 | +1.62 | +1.35% |
| Indian Basket | 120.28 | +4.76 | +4.12% |
| ANS West Coast | 108.89 | -9.17 | -7.77% |
| OPEC Basket | 107.29 | +0.29 | +0.27% |
| Louisiana Light | 104.25 | -18.33 | -14.95% |
| Dubai | 102.70 | -1.45 | -1.39% |
| WTI Midland | 100.88 | -1.67 | -1.63% |
| DME Oman | 99.82 | +1.45 | +1.47% |
| Murban Crude | 98.16 | -1.46 | -1.47% |
| Brent Weighted Avg. | 97.30 | +3.39 | +3.61% |
| Domestic Swt. @ Cushing | 94.35 | +3.46 | +3.81% |
| Mexican Basket | 91.72 | -15.17 | -14.19% |
| Giddings | 88.10 | +3.46 | +4.09% |
| Western Canadian Select | 84.22 | -1.30 | -1.52% |
| Gulf Coast HSFO | 80.11 | -0.75 | -0.93% |
| Heating Oil | 4.078 | +0.316 | +8.40% |
| Gasoline | 3.174 | +0.137 | +4.51% |
| Natural Gas | 2.680 | +0.032 | +1.21% |
| Ethanol | 1.935 | +0.010 | +0.52% |
| LNG Japan/Korea Marker | 19.50 | +0.01 | +0.03% |
| Dutch TTF Natural Gas | 15.84 | +0.28 | +1.82% |
| AECO C Natural Gas | 0.920 | -0.110 | -10.68% |
