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At close · Mon, Jul 13, 2026
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Home›Commodities›Energy›Oil jumps nearly 10% after Trump signals US blockade w…

Oil jumps nearly 10% after Trump signals US blockade will return

International crude rose nearly 10% as President Trump said he would reimpose the U.S. blockade.

Reported · Written up by our desk · Energy

Oil prices surged, with international crude climbing nearly 10%, after President Trump said the U.S. would reimpose a blockade, according to the WSJ Markets.

The move is tied to expectations about whether a shipping strait will return to normal conditions, with traders reacting to the prospect of renewed restrictions.

WSJ Markets said the price action marks one of oil’s steepest single-session gains since 2020.

Latest closeWTI crude $78.04 ▲9.3%

← Newer storyOil refiners surge as crack spread tops $60 a barrel

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Sources

WSJ MarketsOil Surges Most Since 2020, Reflecting Bet That Strait Won’t Go Back to Normal

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