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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.
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 $86.80 ▲3.8%
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