Finance
Morning Bid: Oil Surges on US Blockade of Iran
Published by Global Banking & Finance Review®
Posted on April 13, 2026
2 min readLast updated: April 13, 2026
Add as preferred source on GoogleGlobal Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on April 13, 2026
2 min readLast updated: April 13, 2026
Add as preferred source on GoogleOil prices jumped as the U.S. announced a blockade of all Iranian ports after ceasefire talks collapsed. Hungary’s election results signal a shift toward EU-friendly leadership, while Goldman Sachs earnings, due before markets open, may anchor investor sentiment.
A look at the day ahead in European and global markets from Tom Westbrook
Oil futures jumped back over $100 at the open in Asia on Monday, the dollar fell and stocks were down as U.S.-Iran talks collapsed without making progress toward any durable peace. [MKTS/GLOB]
The U.S. also announced a blockade of Iranian ports nL6N40V09S, a measure aimed at ratcheting up pressure on Tehran, as well as on the recipients - mainly China - of Iranian crude.
The blockade, experts say nL1N40V06L, is an act of war that requires an open-ended commitment of a significant number of warships. The cut to global supply, if Iranian exports are removed, would be up to 2 million barrels per day.
Soft commodities also rose sharply on heightened concern about disruption to fuel and fertiliser supplies, and bonds were sold on worries about the risks to inflation. [GRA/]
Hungary's forint shot higher nL1N40W01F after the defeat of Viktor Orban nL8N40V07J at Sunday's election nL1N40V01B paved the way for European Union funding to flow nL1N40Q0A6 to Hungary and perhaps Ukraine.
Other reactions in the Asia session to the breakdown of U.S.-Iran talks, however, were not extreme and sent most asset prices back to where they sat around the middle of last week, before the U.S., Israel and Iran agreed a ceasefire.
That will leave markets trading the headlines while U.S. earnings season begins in earnest nL6N40T177 with Goldman Sachs reporting before the market opens.
Key developments that could influence markets on Monday:
(Editing by Sonali Paul)
Oil prices surged due to the US announcing a blockade on Iranian ports, threatening to cut up to 2 million barrels per day from global supply.
The dollar fell, stocks declined, soft commodities rose, and bonds were sold as investors worried about supply disruptions and inflation risks.
Key events include the Hungarian election result and U.S. earnings reports, notably from Goldman Sachs.
No, apart from the initial oil surge, most Asian markets returned to levels seen before the ceasefire between the US, Israel, and Iran.
Explore more articles in the Finance category
