🛢️ Oil Prices Surge Above $103 as US Announces Blockade on Iran Published on: April 13, 2026 By: The Ishraj Times 📌 Introduction Global oil prices have surged sharply, crossing the $103 per barrel mark after the United States announced a naval blockade targeting Iran. The move has triggered fresh fears of supply disruption and economic instability across global markets. ⚠️ Why Oil Prices Are Rising The sudden spike in oil prices comes after the breakdown of peace talks between the United States and Iran. Brent crude jumped above $103 per barrel Prices surged by over 7–8% in a single day Markets reacted immediately to geopolitical tensions The blockade announcement has increased uncertainty in global energy markets. 🚢 US Blockade on Iran The US has announced a naval blockade on Iranian ports and shipping routes, particularly around the strategically important Strait of Hormuz. US Navy to restrict maritime traffic Focus on Iranian oil exports Tensions escalate after failed...