Oil tankers and cargo ships line up in the Strait of Hormuz as seen from Khor Fakkan, United Arab Emirates, Wednesday, March 11, 2026. (AP Photo\/Altaf Qadri,File)<\/small><\/p>\n
2026-04-12T22:19:15Z<\/p>\n
NEW YORK (AP) \u2014 Oil prices rose in early market trading on Sunday after the U.S. said it would blockade Iranian ports<\/a><\/span> beginning Monday.<\/p>\n The price of U.S. crude oil rose 8% to $104.24 a barrel and Brent crude oil, the international standard, rose 7% to $102.29.<\/p>\n Brent crude has swung dramatically during the Iran war, rising from roughly $70 per barrel before the war in late February to more than $119 at times. On Friday, ahead of the peace talks, Brent for June delivery fell 0.8% to $95.20 per barrel.<\/p>\n Iran has been effectively controlling the Strait of Hormuz, a key waterway for global oil shipping.<\/p>\n U.S. Central Command said the blockade would be \u201cenforced impartially against vessels of all nations\u201d entering or departing Iranian ports and coastal areas.<\/p>\n It said it would still allow ships traveling between non-Iranian ports to transit the Strait of Hormuz.<\/p>\n Around a fifth of the world\u2019s traded oil typically flows through the Strait of Hormuz every day. Saudi Arabia, Iraq, the United Arab Emirates, Kuwait, and Iran are all major exporters.<\/p>\n Traffic in the Strait has been limited even in the days since the ceasefire. Marine trackers say over 40 commercial ships have crossed since the start of the ceasefire.<\/p>\n <\/a><\/p>\n <\/p>\n![\"MAE](\"https:\/\/dims.apnews.com\/dims4\/default\/8683b27\/2147483647\/strip\/true\/crop\/5565x5565+652+0\/resize\/100x100!\/quality\/90\/?url=https%3A%2F%2Fassets.apnews.com%2F4c%2F4d%2F0a68d9fa41a393a842c56bbc93ee%2Fjda0586-edit-edit.jpg\")
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