MarketsThe blockade is scheduled to begin at 10 a.m. ET on Monday.Oil tankers and cargo ships line up in the Strait of Hormuz as seen from Khor Fakkan, United Arab Emirates, on March 11, 2026. Altaf Qadri/APNaveen AthrappullyReporter4/12/2026|Updated: 4/12/20260:00Brent crude oil futures prices surged late Sunday following the United States threatening to block Iranian ports after negotiations to end the conflict failed, with Iran refusing to agree to U.S. terms to give up its nuclear program.Oil prices hit a high of $103.49 per barrel on Sunday after closing at $95.20 on Friday. As of 9:45 p.m. ET, it was trading at $101.86.
Oil Prices Rise After US Announces Blockade on Iranian Ports
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