Oil surges, stocks fall as Trump says to blockade Strait of Hormuz

Author: AyobamiPublished on: April 13, 2026Country: United States

PoliticsBusiness & Economy

Oil surges, stocks fall as Trump says to blockade Strait of Hormuz

Oil prices surged and stocks fell after US-Iran peace talks collapsed, with Donald Trump announcing a blockade of the Strait of Hormuz. Negotiations in Islamabad failed due to Iran's refusal to abandon its nuclear program. Trump stated that the US Navy would begin blocking all ships trying to enter or leave the strait, asserting that Iran should not profit from this strategic waterway.

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